{"id":385420,"date":"2020-11-19T12:33:16","date_gmt":"2020-11-19T17:33:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385420"},"modified":"2020-11-19T12:33:16","modified_gmt":"2020-11-19T17:33:16","slug":"deadline-reminder-law-offices-of-howard-g-smith-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\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith 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>Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)<\/b><\/p>\n<p>BENSALEM, Pa.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nLaw Offices of Howard G. Smith 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=52331737&amp;newsitemid=20201119005280&amp;lan=en-US&amp;anchor=BABA&amp;index=1&amp;md5=da12d2d90c02ae47218555fe969f80b1\">BABA<\/a>) securities between <b>October 21, 2020 and November 3, 2020<\/b> inclusive (the \u201cClass Period\u201d).\n<\/p>\n<p>\nInvestors suffering losses on their Alibaba investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to <a rel=\"nofollow\" href=\"mailto:howardsmith@howardsmithlaw.com\">howardsmith@howardsmithlaw.com<\/a>.\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, thereby injuring investors.\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>\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 ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to <a rel=\"nofollow\" href=\"mailto:howardsmith@howardsmithlaw.com\">howardsmith@howardsmithlaw.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.howardsmithlaw.com&amp;esheet=52331737&amp;newsitemid=20201119005280&amp;lan=en-US&amp;anchor=www.howardsmithlaw.com&amp;index=2&amp;md5=43e1bebe834ccfdff1b1d16c691142b7\">www.howardsmithlaw.com<\/a>.\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=20201119005280r1&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\/20201119005280\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201119005280\/en\/<\/a><\/span><\/p>\n<p>\nLaw Offices of Howard G. Smith<br \/>\n<br \/>Howard G. Smith, Esquire<br \/>\n<br \/>215-638-4847<br \/>\n<br \/>888-638-4847<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:howardsmith@howardsmithlaw.com\">howardsmith@howardsmithlaw.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.howardsmithlaw.com&amp;esheet=52331737&amp;newsitemid=20201119005280&amp;lan=en-US&amp;anchor=www.howardsmithlaw.com&amp;index=3&amp;md5=e8e6af4e26dc16e4c987946645b6529d\">www.howardsmithlaw.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Pennsylvania 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","protected":false},"excerpt":{"rendered":"<p>Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) BENSALEM, Pa.&#8211;(BUSINESS WIRE)&#8211; Law Offices of Howard G. Smith 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). Investors suffering losses on their Alibaba investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Alibaba &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-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;Deadline Reminder: Law Offices of Howard G. Smith 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-385420","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Deadline Reminder: Law Offices of Howard G. 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Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) BENSALEM, Pa.&#8211;(BUSINESS WIRE)&#8211; Law Offices of Howard G. Smith 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). Investors suffering losses on their Alibaba investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Alibaba &hellip; Continue reading &quot;Deadline Reminder: Law Offices of Howard G. 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Smith 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). Investors suffering losses on their Alibaba investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Alibaba &hellip; Continue reading \"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-19T17:33:16+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201119005280r1&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":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-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\/deadline-reminder-law-offices-of-howard-g-smith-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":"Deadline Reminder: Law Offices of Howard G. 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