{"id":381072,"date":"2020-11-13T16:03:04","date_gmt":"2020-11-13T21:03:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381072"},"modified":"2020-11-13T16:03:04","modified_gmt":"2020-11-13T21:03:04","slug":"baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/","title":{"rendered":"BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited"},"content":{"rendered":"

<\/p>\n

BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited <\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York captioned Ciccarello v. Alibaba Group Holding Limited, et al.,<\/i> (Case No. 1:20-cv-09568) onbehalf of persons and entities that purchased or otherwise acquired Alibaba Group Holding Limited (\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA<\/a>) securities between October 21, 2020 and November 3, 2020<\/b>, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d).\n<\/p>\n

\nInvestors are hereby notified that they have 60 days from the date of this notice<\/b> to move the Court to serve as lead plaintiff in this action.\n<\/p>\n

\nIf you suffered a loss on your Alibaba investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/alibaba-group-holding-limited\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> or visit our website at www.glancylaw.com<\/a> to learn more about your rights.\n<\/p>\n

\nAlibaba is an online and mobile commerce company. Alibaba owns a 33% equity interest in Ant Small and Micro Financial Services Group Co., Ltd. (\u201cAnt Group\u201d), a financial technology company that is best known for operating Alipay, one of the largest mobile and online payments platforms.\n<\/p>\n

\nOn July 20, 2020, Ant Group announced that it had begun the process of a concurrent initial public offering (\u201cIPO\u201d) on the Shanghai and Hong Kong stock exchanges.\n<\/p>\n

\nOn October 26, 2020, Ant Group priced its IPO and was set to raise $34.5 billion, making it the largest public offering in history.\n<\/p>\n

\nOn November 2, 2020, Financial Times<\/i> reported that Chinese regulators had met with Ant Group\u2019s controller Jack Ma, executive chairman Eric Jing, Chief Executive Officer Simon Hu. The article stated that, though regulators did not provide details, \u201cthe Chinese word used to describe the interview \u2013 yuetan<\/i> \u2013 generally indicates a dressing down by authorities.\u201d The article also included a statement from Ant Group that it will \u201cimplement the meeting opinions in depth.\u201d\n<\/p>\n

\nOn November 3, 2020, the IPO was suspended because Ant Group \u201cmay not meet listing qualifications or disclosure requirements due to material matters\u201d related to the meeting with regulators the previous day and \u201cthe recent changes in the Fintech regulatory environment.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $25.27, or 8%, to close at $285.57 per share on November 3, 2020, on unusually heavy trading volume.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (2) that certain impending changes in the Fintech regulatory environment would impact Ant Group\u2019s business; (3) that, as a result of the foregoing, Ant Group\u2019s IPO was reasonably likely to be suspended; and (4) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nFollow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired Alibaba\u2019s securities during the Class Period,\u202fyou may move the Court no later than 60 days from the date of this notice <\/b>toask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to\u202fshareholders@glancylaw.com<\/a>, or visit our website at\u202fwww.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\u202f\u202f\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201113005686\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles H. Linehan, 310-201-9150 or 888-773-9224
\n
1925 Century Park East, Suite 2100
\n
Los Angeles, CA 90067
\n
www.glancylaw.com
\n<\/a>
shareholders@glancylaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York captioned Ciccarello v. Alibaba Group Holding Limited, et al., (Case No. 1:20-cv-09568) onbehalf of persons and entities that purchased or otherwise acquired Alibaba Group Holding Limited (\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) securities between October 21, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). Investors are hereby notified that they have 60 days … <\/p>\n

Continue reading “BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-381072","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York captioned Ciccarello v. Alibaba Group Holding Limited, et al., (Case No. 1:20-cv-09568) onbehalf of persons and entities that purchased or otherwise acquired Alibaba Group Holding Limited (\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) securities between October 21, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). 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Alibaba Group Holding Limited, et al., (Case No. 1:20-cv-09568) onbehalf of persons and entities that purchased or otherwise acquired Alibaba Group Holding Limited (\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) securities between October 21, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). Investors are hereby notified that they have 60 days … Continue reading \"BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-13T21:03:04+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201113005686r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited","datePublished":"2020-11-13T21:03:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/"},"wordCount":805,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201113005686r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/baba-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-alibaba-group-holding-limited\/","name":"BABA CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Alibaba Group Holding Limited - 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