"We are putting resources to the investigation and our concern is to provide services to the complainant and to ensure that we're protecting the rights of Mr Liu", John Elder, a police department spokesman, told the South China Morning Post. Shares in JD.com, China's second largest online retailer after Alibaba, dipped Tuesday to an 18-month low, according to Reuters.
Liu, whose Chinese name is Liu Qiangdong, was in the Midwest city completing the American summer residency of a U.S.
Today, his company said in a statement: 'He has been released without any charges and without requirement for bail.
But local officers were vague about the details, only saying that it was a case of criminal sexual misconduct. He has returned to China, appearing at an event on Tuesday to sign an agreement with Shandong Ruyi, the owner of Swiss luxury shoe firm Bally.
An attorney for Liu, Earl Gray, said Tuesday that he doesn't expect the CEO will face any charges. JD has not commented on the ongoing investigation but said in previous statements that the police had not found any misconduct in their probe into Liu. "There's no credible complaint", defense attorney Joseph Friedberg said on Tuesday. Meanwhile, the third law firm, Pomerantz LLP, said it is investigating whether JD.com engaged in securities fraud or other unlawful business practices.
According to Minnesota law, the maximum penalty if found guilty of first degree sexual assault is 30 years and the minimum is 12 years.
JD.com's shares have plummeted since Minnesota police arrested the 45-year-old Liu on Friday for an alleged rape.
Liu was in Minneapolis because he is enrolled in a doctorate of business administration program at University of Minnesota's Carlson School of Management.
Any prolonged absence by Liu could exacerbate risks for the company, given JD.com's unusual rules that require Liu to be present at board meetings for the board to make decisions.
If the United States police accuse Liu, the company's share price would continue to fall, but it was predicted that there would not be a sharp crash due to an already sharp decline this year, Reuters quoted Danny Law, an analyst at brokerage Guotai Junan as saying.
JD.com, which is China's second-largest e-commerce company after Alibaba, saw its shares plunge in US trading 6.4% to $29.29 after the Labor Day public holiday.
In July, an Australian court lifted the suppression order that allowed Liu's name to be made public in connection a 2015 party at the billionaire's Sydney penthouse.