New York, New York--(Newsfile Corp. - December 29, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Alibaba Group Holding Limited (NYSE: BABA) alleging that the Company violated federal securities laws.
Class Period: July 20, 2020 and November 3, 2020
Lead Plaintiff Deadline: January 12, 2021
Learn more about your recoverable losses in BABA:
http://www.kleinstocklaw.com/pslra-1/alibaba-group-holding-limited-loss-submission-form?id=11834&from=5
The filed complaint alleges that Alibaba Group Holding Limited made materially false and/or misleading statements and/or failed to disclose that: (1) Ant Small and Micro Financial Services Group Co., Ltd. ("Ant Group"), a financial technology company in which Alibaba owns a 33% equity interest, did not meet listing qualifications or disclosure requirements for certain material matters; (2) certain impending changes in the Fintech regulatory environment would impact Ant Group's business; (3) as a result of the foregoing, Ant Group's initial public offering was reasonably likely to be suspended; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until January 12, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the BABA lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71116
