{"id":398622,"date":"2020-12-13T00:25:27","date_gmt":"2020-12-13T05:25:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398622"},"modified":"2020-12-13T00:25:27","modified_gmt":"2020-12-13T05:25:27","slug":"pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/","title":{"rendered":"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Dec.  13, 2020  (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-10267, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Alibaba securities between July 20, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder.<\/p>\n<p align=\"justify\">If you are a shareholder who purchased Alibaba securities during the Class Period, you have until January 12, 2021 to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=d_U6w1MKKNJ93JoK5nyKW_D69BXOaMd2sJNZcQ9ru2ZJzzPME73MwWinKJICCov-M7GQjXMbSu6gw3E05RCERaQUuthoFH5G6n83WmkrHh8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.pomerantzlaw.com<\/u><\/a>. \u00a0 To discuss this action, contact Robert S. Willoughby at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=G4bAa5NoQ8mJa4p_2759cWGWFuqMvhoCb80LXPlnt1k9Ytqsf64pidgDUzXhJ6kC-0D2dMtnqd9miI3YiU8Zgl7Fur28swbwr_pFB-IxZbQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>newaction@pomlaw.com<\/u><\/a> or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0<\/p>\n<p align=\"center\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=I7e5SdCaTTsgsCQPrYjnWWb4ySBCxKkLSjoAWlJicXQ1d_gvGi1oridYigyWd8D0Wld8K08kYG148DxuW2_D-NcO6Wkj7cGkvQrgT9tJ1_1cFuxtyW6wR_PxRTidl5rZS8gHS02eMAwDmGAcZ1d8GWiQy-leY8rgeuzwUNETDL4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <u>[Click here for information about joining the class action]<\/u><br \/>\n        <\/a>\n      <\/p>\n<p align=\"justify\">Alibaba is an online and mobile commerce company.\u00a0 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.<\/p>\n<p align=\"justify\">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.\u00a0 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 align=\"justify\">The complaint 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.\u00a0 Specifically, Defendants failed to disclose to investors that: (i) Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (ii) certain impending changes in the Fintech regulatory environment would impact Ant Group\u2019s business; (iii) as a result of the foregoing, Ant Group\u2019s IPO was reasonably likely to be suspended; and (iv) 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 align=\"justify\">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, and Chief Executive Officer Simon Hu.\u00a0 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\u00a0 The article also included a statement from Ant Group that it will \u201cimplement the meeting opinions in depth.\u201d<\/p>\n<p align=\"justify\">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 align=\"justify\">On this news, Alibaba\u2019s American Depository Share price fell $25.27 per share, or 8%, to close at $285.57 per share on November 3, 2020, on unusually heavy trading volume.<\/p>\n<p align=\"justify\">The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=d_U6w1MKKNJ93JoK5nyKWx0KUeKNWqq3gLc4thZiej9sTS3FzIghSgzIm5FB53cQ0z9VUArMmTGiLdQ48bTj49aikGYaI2RGf9ugNQEHltA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.pomerantzlaw.com<\/u><\/a>.<\/p>\n<p align=\"justify\">\n        <strong>CONTACT:<br \/><\/strong>Robert S. Willoughby<br \/>Pomerantz LLP<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zFeX2SzTNHcqT57dXCe2xWPPYbsK0Y8-daxL4DiWmj-TYFetQM7QiHq9746r0G0YkG9LSSs_ZFOoEW-1e1h-CHbRqBAwo1FQjd8iBMLteiA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>rswilloughby@pomlaw.com<\/u><\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=S7O5klVHg3oukUwuDkRTpyqaomNN9CetlxA0wUQLbiKMxiQo4-G8xG6cjKOngPwSzzNbfdu5PdDprFJEKm22Iw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/><\/a>888-476-6529 ext. 7980<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTMzOCMzODc5MDQ2IzIwMTc2NDQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/75ff9396-f5da-4b3f-9588-fda0dec60ef0\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Dec. 13, 2020 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-10267, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Alibaba securities between July 20, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder. If you are a shareholder who purchased Alibaba securities during &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 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-398622","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>Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 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\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 13, 2020 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-10267, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Alibaba securities between July 20, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder. If you are a shareholder who purchased Alibaba securities during &hellip; Continue reading &quot;Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-13T05:25:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTMzOCMzODc5MDQ2IzIwMTc2NDQ=\" \/>\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\\\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA\",\"datePublished\":\"2020-12-13T05:25:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\\\/\"},\"wordCount\":673,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExMTMzOCMzODc5MDQ2IzIwMTc2NDQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\\\/\",\"name\":\"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/","og_locale":"en_US","og_type":"article","og_title":"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA - Market Newsdesk","og_description":"NEW YORK, Dec. 13, 2020 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(\u201cAlibaba\u201d or the \u201cCompany\u201d) (NYSE: BABA) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-10267, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Alibaba securities between July 20, 2020 and November 3, 2020, inclusive (the \u201cClass Period\u201d).\u00a0 Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder. If you are a shareholder who purchased Alibaba securities during &hellip; Continue reading \"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-13T05:25:27+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTMzOCMzODc5MDQ2IzIwMTc2NDQ=","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\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA","datePublished":"2020-12-13T05:25:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/"},"wordCount":673,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTMzOCMzODc5MDQ2IzIwMTc2NDQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-2\/","name":"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline \u2013 BABA - 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