The Rosen Law Firm announces that it is investigating potential
securities claims against Alibaba Group Holdings Limited (NYSE:BABA)
resulting from allegations that BABA may have issued materially
misleading business information to the investing public.
On January 28, 2015, Bloomberg News published an article that revealed
that the State Administration for Industry & Commerce issued a scathing
report accusing Alibaba of allowing merchants to operate without
required business licenses, to run unauthorized stores that co-opt
famous brands and to sell fake wine and handbags. Alibaba employees took
bribes, and the e-commerce giant did not fix flaws in customer feedback
or internal credit-scoring systems. On this news, BABA shares fell $9.93
per share, or 10.09% in intraday trading on January 29, 2015.
The Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by BABA shareholders as a result of this adverse information.
If you purchased BABA stock, please visit the website at http://rosenlegal.com/cases-492.html
for more information. You may also contact Phillip Kim, Esq. or Kevin
Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail
at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Copyright Business Wire 2015