{"id":407128,"date":"2021-01-03T03:04:28","date_gmt":"2021-01-03T08:04:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=407128"},"modified":"2021-01-03T03:04:28","modified_gmt":"2021-01-03T08:04:28","slug":"pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline-baba-4","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-4\/","title":{"rendered":"Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline &#8211; BABA"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Jan. 3, 2021<\/span> \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) and certain of its officers.\u00a0\u00a0The class action, filed in <span class=\"xn-location\">United States<\/span> District Court for the Southern District of <span class=\"xn-location\">New York<\/span>, 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 <span class=\"xn-chron\">July 20, 2020<\/span> and <span class=\"xn-chron\">November 3, 2020<\/span>, inclusive (the &#8220;Class Period&#8221;).\u00a0Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) and Rule <span class=\"xn-money\">10b<\/span>-5 promulgated thereunder.<\/p>\n<p>If you are a shareholder who purchased Alibaba securities during the Class Period, you have until <span class=\"xn-chron\">January 12, 2021<\/span> to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0A copy of the Complaint can be obtained at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3024772-1&amp;h=3541047947&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener noreferrer\">www.pomerantzlaw.com<\/a>.\u00a0\u00a0To discuss this action, contact <span class=\"xn-person\">Robert S. Willoughby<\/span> at <a target=\"_blank\" href=\"mailto:newaction@pomlaw.com\" rel=\"nofollow noopener noreferrer\">newaction@pomlaw.com<\/a>\u00a0or 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 class=\"prntac\">\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3024772-1&amp;h=4051797826&amp;u=https%3A%2F%2Fpomlaw.com%2Flearn-more-form%3Fcompany%3Dbaba&amp;a=%5BClick+here+for+information+about+joining+the+class+action%5D\" rel=\"nofollow noopener noreferrer\">[Click here for information about joining the class action]<\/a>\n      <\/p>\n<p>Alibaba is an online and mobile commerce company.\u00a0Alibaba owns a 33% equity interest in Ant Small and Micro Financial Services Group Co., Ltd. (&#8220;Ant Group&#8221;), a financial technology company that is best known for operating Alipay, one of the largest mobile and online payments platforms.<\/p>\n<p>On <span class=\"xn-chron\">July 20, 2020<\/span>, Ant Group announced that it had begun the process of a concurrent initial public offering (&#8220;IPO&#8221;) on the <span class=\"xn-location\">Shanghai<\/span> and <span class=\"xn-location\">Hong Kong<\/span> stock exchanges.\u00a0On <span class=\"xn-chron\">October 26, 2020<\/span>, Ant Group priced its IPO and was set to raise <span class=\"xn-money\">$34.5 billion<\/span>, making it the largest public offering in history.<\/p>\n<p>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&#8217;s business, operations, and prospects.\u00a0Specifically, 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&#8217;s business; (iii) as a result of the foregoing, Ant Group&#8217;s IPO was reasonably likely to be suspended; and (iv) as a result of the foregoing, Defendants&#8217; positive statements about the Company&#8217;s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>On <span class=\"xn-chron\">November 2, 2020<\/span>, <i>Financial Times<\/i> reported that Chinese regulators had met with Ant Group&#8217;s controller <span class=\"xn-person\">Jack Ma<\/span>, executive chairman <span class=\"xn-person\">Eric Jing<\/span>, and Chief Executive Officer <span class=\"xn-person\">Simon Hu<\/span>.\u00a0The article stated that, though regulators did not provide details, &#8220;the Chinese word used to describe the interview \u2013 <i>yuetan<\/i> \u2013 generally indicates a dressing down by authorities.&#8221;\u00a0 The article also included a statement from Ant Group that it will &#8220;implement the meeting opinions in depth.&#8221;<\/p>\n<p>On <span class=\"xn-chron\">November 3, 2020<\/span>, the IPO was suspended because Ant Group &#8220;may not meet listing qualifications or disclosure requirements due to material matters&#8221; related to the meeting with regulators the previous day and &#8220;the recent changes in the Fintech regulatory environment.&#8221;<\/p>\n<p>On this news, Alibaba&#8217;s American Depository Share price fell <span class=\"xn-money\">$25.27<\/span> per share, or 8%, to close at <span class=\"xn-money\">$285.57<\/span> per share on <span class=\"xn-chron\">November 3, 2020<\/span>, on unusually heavy trading volume.<\/p>\n<p>The Pomerantz Firm, with offices in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Chicago<\/span>, <span class=\"xn-location\">Los Angeles<\/span>, and <span class=\"xn-location\">Paris<\/span> is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late <span class=\"xn-person\">Abraham L. Pomerantz<\/span>, 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 target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3024772-1&amp;h=3541047947&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener noreferrer\">www.pomerantzlaw.com<\/a>.<\/p>\n<p>\n        <b>CONTACT:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Robert S. Willoughby<\/span><br \/>\n        <br \/>Pomerantz LLP<br \/><a target=\"_blank\" href=\"mailto:rswilloughby@pomlaw.com\" rel=\"nofollow noopener noreferrer\">rswilloughby@pomlaw.com<\/a><br \/>888-476-6529 ext. 7980<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC36050&amp;sd=2021-01-03\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline--baba-301199913.html\">http:\/\/www.prnewswire.com\/news-releases\/pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-alibaba-group-holding-limited-of-class-action-lawsuit-and-upcoming-deadline&#8211;baba-301199913.html<\/a><\/p>\n<p>SOURCE  Pomerantz LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC36050&amp;Transmission_Id=202101030301PR_NEWS_USPR_____DC36050&amp;DateId=20210103\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, Jan. 3, 2021 \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) and certain of its officers.\u00a0\u00a0The 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 &#8220;Class Period&#8221;).\u00a0Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) and Rule 10b-5 promulgated thereunder. If you are a shareholder who purchased Alibaba securities during the &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-4\/\" 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 &#8211; 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-407128","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>Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alibaba Group Holding Limited of Class Action Lawsuit and Upcoming Deadline - 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-4\/\" \/>\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 - BABA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, Jan. 3, 2021 \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) and certain of its officers.\u00a0\u00a0The 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 &#8220;Class Period&#8221;).\u00a0Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) and Rule 10b-5 promulgated thereunder. If you are a shareholder who purchased Alibaba securities during the &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 &#8211; 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-4\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-03T08:04:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC36050&amp;sd=2021-01-03\" \/>\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-4\\\/#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-4\\\/\"},\"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 &#8211; 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Pomerantz LLP announces that a class action lawsuit has been filed against Alibaba Group Holding Limited \u00a0(&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) and certain of its officers.\u00a0\u00a0The 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 &#8220;Class Period&#8221;).\u00a0Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) and Rule 10b-5 promulgated thereunder. If you are a shareholder who purchased Alibaba securities during the &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 &#8211; 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-4\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-03T08:04:28+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC36050&amp;sd=2021-01-03","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-4\/#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-4\/"},"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 &#8211; 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