{"id":383296,"date":"2020-11-17T12:33:22","date_gmt":"2020-11-17T17:33:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=383296"},"modified":"2020-11-17T12:33:22","modified_gmt":"2020-11-17T17:33:22","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)<\/b><\/p>\n<p>LOS ANGELES&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.glancylaw.com%2Fcases%2Falibaba-group-holding-limited%2F&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=Glancy+Prongay+%26amp%3B+Murray+LLP&amp;index=1&amp;md5=af6e057a3a1d256144b5d18125a2ad8a\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming <b>January 12, 2021 <\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Alibaba Group Holding Limited (\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FBABA&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=BABA&amp;index=2&amp;md5=dd450af4d1cea53bd1c0d82618244b1c\">BABA<\/a>) securities between <b>October 21, 2020 and November 3, 2020<\/b> inclusive (the \u201cClass Period\u201d).\n<\/p>\n<p>\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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.glancylaw.com%2Fcases%2Falibaba-group-holding-limited%2F&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.glancylaw.com%2Fcases%2Falibaba-group-holding-limited%2F&amp;index=3&amp;md5=273e7618136104b0cefc04cef679cf00\">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 <a rel=\"nofollow\" href=\"mailto:shareholders@glancylaw.com\">shareholders@glancylaw.com<\/a> to learn more about your rights.\n<\/p>\n<p>\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<p>\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<p>\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<p>\nOn November 2, 2020, <i>Financial Times<\/i> reported that Chinese regulators had met with Ant Group\u2019s controller Jack Ma, executive chairman Eric Jing, and Chief Executive Officer Simon Hu. The article stated that, though regulators did not provide details, \u201cthe Chinese word used to describe the interview \u2013 <i>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<p>\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<p>\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<p>\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<p>\nFollow us for updates on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fglancy-prongay-murray-llp&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=4&amp;md5=e77103efdb4d9d232e6982dce719f5ea\">LinkedIn<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FGPM_llp&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=Twitter&amp;index=5&amp;md5=c552b2cd17df7b4b69a9f38df96f053e\">Twitter<\/a>, or <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2FGlancyLawFirm%2F&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=Facebook&amp;index=6&amp;md5=77f5351c4848be679e08a579a4b6a0b5\">Facebook<\/a>.\n<\/p>\n<p>\nIf you purchased or otherwise acquired Alibaba securities during the Class Period, you may move the Court no later than <b>January 12, 2021 <\/b>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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 <a rel=\"nofollow\" href=\"mailto:shareholders@glancylaw.com\">shareholders@glancylaw.com<\/a>, or visit our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.glancylaw.com&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=www.glancylaw.com&amp;index=7&amp;md5=b7da58275d0009e21a4a1fb9e65f2611\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\n<\/p>\n<p>\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201117005275r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201117005275\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201117005275\/en\/<\/a><\/span><\/p>\n<p>\nGlancy Prongay &amp; Murray LLP, Los Angeles<br \/>\n<br \/>Charles Linehan, 310-201-9150 or 888-773-9224<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:shareholders@glancylaw.com\">shareholders@glancylaw.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.glancylaw.com&amp;esheet=52329038&amp;newsitemid=20201117005275&amp;lan=en-US&amp;anchor=www.glancylaw.com&amp;index=8&amp;md5=f13fb15b9ed9deb37792c120e46326ea\">www.glancylaw.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201117005275\/en\/478343\/3\/GPM_Logo_Colo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming January 12, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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). If 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\/. You can also contact &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)&#8221;<\/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-383296","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) - 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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming January 12, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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). If 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\/. 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If 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\/. You can also contact &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-17T17:33:22+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201117005275r1&amp;sid=flmnd&amp;distro=nx&amp;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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; 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