NEW YORK, Feb. 26, 2015 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott") filed a class action complaint against Alibaba Group Holding Ltd. ("Alibaba" or the "Company") in the U.S. District Court for the Southern District of New York. The complaint was filed on behalf of those persons and entities who purchased or otherwise acquired Alibaba securities (NYSE:BABA) between October 21, 2014 and January 28, 2015 (the "Class Period") and seeks remedies under the Securities Exchange Act of 1934.
Investors who purchased Alibaba securities during the Class Period and wish to serve as a lead plaintiff in the class action must move the Court no later than March 31, 2015. Members of the investor class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain absent class members in the lawsuit.
The securities class action charges that, throughout the Class Period, Alibaba made false and/or misleading statements, as well as failed to disclose material adverse facts about Alibaba's business, operations, and prospects. The complaint alleges that when this adverse information became known, prices of the Company's securities declined significantly.
If you wish to view the complaint, please click here: Complaint. If you wish to discuss the Alibaba litigation, or have questions concerning this notice or your rights, please contact Michael Burnett of Scott+Scott at mburnett@scott-scott.com, (800) 404-7770, or (860) 537-5537, or visit the Scott+Scott website for more information: http://www.scott-scott.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.
CONTACT: Michael Burnett
Scott+Scott, Attorneys at Law, LLP
(800) 404-7770
(860) 537-5537
mburnett@scott-scott.com
