{"id":395618,"date":"2020-12-08T11:03:32","date_gmt":"2020-12-08T16:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=395618"},"modified":"2020-12-08T11:03:32","modified_gmt":"2020-12-08T16:03:32","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba-3","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-3\/","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":"<div class=\"mw_release\">\n<p align=\"both\">LOS ANGELES, Dec.  08, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MzKM2XJ26XUbKhc72q4iUoMiZRG5PiLqzegxHRoMaxW6KzI3-05CpWOrn6cFMYw_9Wy5WNPeVJXtJKHE8apD3_uU-lPjieg7wTPsgaz8gPbKWID5PApeHu51oW1iuTK4lP6zMGrwAivPu1MGrJV9yg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>January 12, 2021<\/strong><strong>\u00a0<\/strong>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 href=\"https:\/\/www.globenewswire.com\/Tracker?data=1dP__Ud9HIDQFE4yvpVeRAFFNYAt7lulNDg2GMJHh5a9zrB5pxOln7M7eMx-ZT49MzvwM5UfpVG4qX_keaGxVw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>BABA<\/u><\/a>) securities between <strong>October 21, 2020 and November 3, 2020<\/strong> inclusive (the \u201cClass Period\u201d).<\/p>\n<p>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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xVVGAmhgYa0c98kVXdg0YD7isT6zF4Ik17Ehtx2NYvYzKJIjzk-p7PrjvHs14xLwX5PKnTe3lfyTt2b3aM76YuDWSJbGHYWx-C4fg_NWKyPddHLOzyp2zWn94F7optlcV3NEukE02_ltNTRBvN0rRaz_UNOhk86jK-RKPtU8M47oOteZUXYdgLALudMxRvfuvDdV-oA3_GE0cpN6Xz_Nug==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">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 href=\"https:\/\/www.globenewswire.com\/Tracker?data=pUM0om1L6LeTzK6gp9UpYgXHxPLwxTmWVRysmA_ko31RDgbMV0uzpvCFqU7PRvBVYwv9F2KrcLfHBKI6bdp7f2vTEOrqM2VKsPmRWJ26gb7RAJQtvSl0mJdMFnIdC4FG\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>Alibaba 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 operates Alipay, one of the largest mobile and online payments platforms.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>On November 2, 2020, <em>Financial Times<\/em> 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 <em>yuetan<\/em> \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<\/p>\n<p>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<\/p>\n<p>On 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.<\/p>\n<p>The 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.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=AS3kRCvyxaNxhkH2Kg7tGw8Kx-3PzFRfj1vkB-Vku1AXQkp5Hs-ukGYbG09i2cIL1b0dsNBDjrYflbIQ0jxO9fqqRJV2XCih0-Rua10s2yShyM-be9rL1kVx5OyK6BoV\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=s-83rQgXbN03lSRr4DLXTmWE-CRYwYQRvbQ-4MMzTVNibXC9ZdyDpbgKdqGZ3mMdJjltzuGaGOvWVXpS8rYycw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=GDTyubyWDjD3RwOm8Bsedk5VDXrng8L2Eh6P9P0cIQIZmTjCouzwI2QkiuwTtr07Wsl-dBZk7_Yvbp0sBqCkcb-dctgL8tjKIuQoaQ2ASz4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Alibaba securities during the Class Period, you may move the Court no later than\u00a0<strong>January 12, 2021<\/strong> 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\u00a0learn more\u00a0about 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 href=\"https:\/\/www.globenewswire.com\/Tracker?data=pUM0om1L6LeTzK6gp9UpYgXHxPLwxTmWVRysmA_ko328dLpdhCtC5uNyH3qOhKiEfFY8UtE91vbGJ0L_rB-ermo7bVGHMwYG0wgtIpjp0NPC5UKbxdrfjDRLQbozGkAg\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2VBq3xLw4_qsNakmXmEnHaWS5dTiboaRqbZ-RKLC7VK0syFpUvLgHhzwuZYiVl1rp0yA7ifPtprqg2isvvy4kA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pUM0om1L6LeTzK6gp9UpYgXHxPLwxTmWVRysmA_ko32C9bMHY1yIuoNDF-v7n0Se8NP_1oYKSBDyaviLzuobPVEt-nYHljMQEUeihaYOAKgonDBmKRda4LynAhQ2EdM-\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2VBq3xLw4_qsNakmXmEnHbVHcsZvCsvI9PTH8IjfojXjc1rziDmgiGuQkh4n6AMBdCOOu1I71pZwUzPFqBBw7D-pHYU4lV02D7RiuTao7CQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5ODI1NyMzODYwNjgzIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/170ae872-5e0a-450f-83a5-b5a9fcea7ac0\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, Dec. 08, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0January 12, 2021\u00a0deadline 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 Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn &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-3\/\" 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-395618","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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-3\/\" \/>\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=\"LOS ANGELES, Dec. 08, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0January 12, 2021\u00a0deadline 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 Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)&quot;\" \/>\n<meta property=\"og:url\" content=\"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-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-08T16:03:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5ODI1NyMzODYwNjgzIzIwMTcyOTE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@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-3\\\/#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-3\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Glancy Prongay &amp; 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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 Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn &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-3\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-08T16:03:32+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5ODI1NyMzODYwNjgzIzIwMTcyOTE=","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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba-3\/#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-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; 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