{"id":392770,"date":"2020-12-03T09:03:41","date_gmt":"2020-12-03T14:03:41","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=392770"},"modified":"2020-12-03T09:03:41","modified_gmt":"2020-12-03T14:03:41","slug":"notice-of-lead-plaintiff-deadline-for-shareholders-in-the-alibaba-group-holdings-limited-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/notice-of-lead-plaintiff-deadline-for-shareholders-in-the-alibaba-group-holdings-limited-class-action-lawsuit\/","title":{"rendered":"Notice of Lead Plaintiff Deadline for Shareholders in the Alibaba Group Holdings Limited Class Action Lawsuit"},"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>Notice of Lead Plaintiff Deadline for Shareholders in the <i>Alibaba Group Holdings Limited<\/i> Class Action Lawsuit<\/b><\/p>\n<p>SAN DIEGO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRobbins Geller Rudman &amp; Dowd LLP announces that a class action lawsuit has been filed in the Southern District of New York on behalf of purchasers of Alibaba Group Holdings Limited (NYSE:BABA) securities between October 21, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d). The case is captioned <i>Ciccarello v. Alibaba Group Holdings Limited<\/i>,<i \/>No. 20-cv-09568, and is assigned to Judge George B. Daniels. The<i> Alibaba <\/i>class action lawsuit charges Alibaba and certain of its executives with violations of the Securities Exchange Act of 1934.\n<\/p>\n<p>\nThe Private Securities Litigation Reform Act of 1995 permits any investor who purchased Alibaba securities during the Class Period to seek appointment as lead plaintiff in the <i>Alibaba <\/i>class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the <i>Alibaba <\/i>class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the <i>Alibaba<\/i> class action lawsuit. An investor\u2019s ability to share in any potential future recovery of the <i>Alibaba<\/i> class action lawsuit is not dependent upon serving as lead plaintiff. <b>If you wish to serve as lead plaintiff of the <i>Alibaba<\/i><\/b><b>class action lawsuit or have questions concerning your rights regarding the <i>Alibaba<\/i><\/b><b>class action lawsuit, please provide your information <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.rgrdlaw.com%2Fcases-alibaba-group-holdings-limited-class-action-lawsuit.html&amp;esheet=52341902&amp;newsitemid=20201203005220&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=9c83f52a018e3fdefe6907da40070bcb\">here<\/a> or contact counsel, J.C. Sanchez of Robbins Geller, at 800\/449-4900 or 619\/231-1058 or via e-mail at <a rel=\"nofollow\" href=\"mailto:jsanchez@rgrdlaw.com\">jsanchez@rgrdlaw.com<\/a>. Lead plaintiff motions for the <i>Alibaba<\/i><\/b><b>class action lawsuit must be filed with the court no later than January<\/b><b>12, 2021.<\/b><\/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 payment platforms. On 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. On 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>\nThe <i>Alibaba <\/i>class action lawsuit alleges that, during the Class Period, defendants made false and\/or misleading statements and\/or failed to disclose that: (1) Ant Group 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\u2019s business; (3) Ant Group\u2019s IPO was reasonably likely to be suspended; and (4) as a result of the foregoing, defendants\u2019 positive statements about Alibaba\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\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 indicate[s] a dressing down by authorities.\u201d The article also included a statement from Ant Group that it would \u201cimplement the meeting opinions in depth.\u201d The following day, on 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 On this news, Alibaba\u2019s share price fell more than 8%, damaging investors.\n<\/p>\n<p>\nRobbins Geller Rudman &amp; Dowd LLP is one of the world\u2019s leading law firms representing investors in securities class action litigation. With 200 lawyers in 9 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For seven consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in the world in both amount recovered for shareholders and total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and have recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Robbins Geller attorneys are consistently recognized by courts, professional organizations, and the media as leading lawyers in the industry. Please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rgrdlaw.com&amp;esheet=52341902&amp;newsitemid=20201203005220&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.rgrdlaw.com&amp;index=2&amp;md5=5bc8c6f2ff6841cf08729c4c9ffb4ba2\">http:\/\/www.rgrdlaw.com<\/a> for more information.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201203005220r1&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\/20201203005220\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201203005220\/en\/<\/a><\/span><\/p>\n<p>\nRobbins Geller Rudman &amp; Dowd LLP<br \/>\n<br \/>J.C. Sanchez, 800-449-4900<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jsanchez@rgrdlaw.com\">jsanchez@rgrdlaw.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\/20201203005220\/en\/221960\/3\/RGRD_FINAL.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>Notice of Lead Plaintiff Deadline for Shareholders in the Alibaba Group Holdings Limited Class Action Lawsuit SAN DIEGO&#8211;(BUSINESS WIRE)&#8211; Robbins Geller Rudman &amp; Dowd LLP announces that a class action lawsuit has been filed in the Southern District of New York on behalf of purchasers of Alibaba Group Holdings Limited (NYSE:BABA) securities between October 21, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d). The case is captioned Ciccarello v. Alibaba Group Holdings Limited,No. 20-cv-09568, and is assigned to Judge George B. Daniels. The Alibaba class action lawsuit charges Alibaba and certain of its executives with violations of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Alibaba securities during &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/notice-of-lead-plaintiff-deadline-for-shareholders-in-the-alibaba-group-holdings-limited-class-action-lawsuit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Notice of Lead Plaintiff Deadline for Shareholders in the Alibaba Group Holdings Limited Class Action Lawsuit&#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-392770","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>Notice of Lead Plaintiff Deadline for Shareholders in the Alibaba Group Holdings Limited Class Action Lawsuit - 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\/notice-of-lead-plaintiff-deadline-for-shareholders-in-the-alibaba-group-holdings-limited-class-action-lawsuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Notice of Lead Plaintiff Deadline for Shareholders in the Alibaba Group Holdings Limited Class Action Lawsuit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Notice of Lead Plaintiff Deadline for Shareholders in the Alibaba Group Holdings Limited Class Action Lawsuit SAN DIEGO&#8211;(BUSINESS WIRE)&#8211; Robbins Geller Rudman &amp; Dowd LLP announces that a class action lawsuit has been filed in the Southern District of New York on behalf of purchasers of Alibaba Group Holdings Limited (NYSE:BABA) securities between October 21, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d). The case is captioned Ciccarello v. Alibaba Group Holdings Limited,No. 20-cv-09568, and is assigned to Judge George B. Daniels. The Alibaba class action lawsuit charges Alibaba and certain of its executives with violations of the Securities Exchange Act of 1934. 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The case is captioned Ciccarello v. Alibaba Group Holdings Limited,No. 20-cv-09568, and is assigned to Judge George B. Daniels. The Alibaba class action lawsuit charges Alibaba and certain of its executives with violations of the Securities Exchange Act of 1934. 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