Law
Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Alibaba Group Holding Limited
(“Alibaba” or the “Company”) (NYSE:BABA) concerning possible violations
of federal securities laws. Investors who have losses of $1 million or
more are encouraged to contact the firm for more information.
Alibaba Group is based in Hangzhou, China, and through its subsidiaries
operates as an online and mobile commerce company in the People’s
Republic of China and internationally. A report issued January 28, 2015
by China’s State Administration for Industry and Commerce (SAIC) alleges
that the Company “has long paid insufficient attention to the illegal
business activities on Alibaba platforms.” The SAIC − a government
regulatory agency that operates in a supervisory role over online
trading platforms and business in China − alleges that many products
sold on Alibaba’s e-commerce websites and services infringed upon
trademarks, were substandard or fake, were banned or endangered public
security. According to Reuters.com, the SAIC report summarized a
July 16, 2014 meeting between Chinese government business regulators and
Alibaba. Following this news, in intraday trading on January 29, 2015,
Alibaba shares dropped more than 8% below the previous closing price.
If you purchased Alibaba shares and suffered losses of $1 million or
more and would like to learn more about these claims, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Copyright Business Wire 2015