NEW YORK, Feb. 3, 2015 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Alibaba Group Holding Limited ("Alibaba" or the "Company") (NYSE:BABA) American Depositary Shares ("ADSs") between October 21, 2014 and January 28, 2015.
To get more information, click here: http://zlk.9nl.com/alibaba-group-baba. There is no cost or obligation to you.
The complaint alleges that, among other allegations, during the Class Period defendants failed to disclose that Company executives had met with China's State Administration of Industry and Commerce ("SAIC") in July 2014, just two months before the Company's Initial Public Offering, and that during the IPO Alibaba and certain "selling shareholders"—including two of its co-founders—sold more than 368 million ADSs at $68 each.
If you suffered a loss in Alibaba you have until March 31, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/alibaba-group-baba.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
