{"id":409716,"date":"2021-01-06T12:03:21","date_gmt":"2021-01-06T17:03:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=409716"},"modified":"2021-01-06T12:03:21","modified_gmt":"2021-01-06T17:03:21","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-3","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-3\/","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":"<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\">BENSALEM, Pa.<\/span>, <span class=\"xn-chron\">Jan. 6, 2021<\/span> \/PRNewswire\/ &#8212; Law Offices of <span class=\"xn-person\">Howard G. Smith<\/span> reminds investors of the upcoming <b><span class=\"xn-chron\">January 12<\/span>, 2021\u00a0<\/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 (&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3027166-1&amp;h=2965731161&amp;u=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FBABA&amp;a=BABA\" rel=\"nofollow noopener noreferrer\">BABA<\/a>) securities between <b><span class=\"xn-chron\">July 20, 2020<\/span> and <span class=\"xn-chron\">November 3, 2020<\/span><\/b>, inclusive (the &#8220;Class Period&#8221;).<\/p>\n<p>Investors suffering losses on their Alibaba investments are encouraged to contact the Law Offices of <span class=\"xn-person\">Howard G. Smith<\/span> to discuss their legal rights in this class action at 888-638-4847 or by email to <a target=\"_blank\" href=\"mailto:howardsmith@howardsmithlaw.com\" rel=\"nofollow noopener noreferrer\">howardsmith@howardsmithlaw.com<\/a>.<\/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. (&#8220;Ant Group&#8221;), a financial technology company that is best known for operates 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. <\/p>\n<p>On <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>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>, Chief Executive Officer <span class=\"xn-person\">Simon Hu<\/span>. The 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; 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, the Company&#8217;s share price fell <span class=\"xn-money\">$25.27<\/span>, or 8%, to close at <span class=\"xn-money\">$285.57<\/span> per share on <span class=\"xn-chron\">November 3, 2020<\/span>, thereby injuring investors.<\/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&#8217;s 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&#8217;s business; (3) that, as a result of the foregoing, Ant Group&#8217;s IPO was reasonably likely to be suspended; and (4) that, 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>If you purchased or otherwise acquired Alibaba securities during the Class Period, you may move the Court no later than\u00a0<b><span class=\"xn-chron\">January 12, 2021<\/span><\/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\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact <span class=\"xn-person\">Howard G. Smith, Esquire<\/span>, of Law Offices of <span class=\"xn-person\">Howard G. Smith<\/span>, 3070 Bristol Pike, Suite 112, <span class=\"xn-location\">Bensalem, Pennsylvania<\/span> 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to\u00a0<a target=\"_blank\" href=\"mailto:howardsmith@howardsmithlaw.com\" rel=\"nofollow noopener noreferrer\">howardsmith@howardsmithlaw.com<\/a>, or visit our website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3027166-1&amp;h=4213911982&amp;u=http%3A%2F%2Fwww.howardsmithlaw.com%2F&amp;a=www.howardsmithlaw.com\" rel=\"nofollow noopener noreferrer\">www.howardsmithlaw.com<\/a>.<\/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        <b>Contacts<\/b>\n      <\/p>\n<p>Law Offices of <span class=\"xn-person\">Howard G. Smith<\/span><br \/><span class=\"xn-person\">Howard G. Smith, Esquire<\/span><br \/>215-638-4847<br \/>888-638-4847<br \/><a target=\"_blank\" href=\"mailto:howardsmith@howardsmithlaw.com\" rel=\"nofollow noopener noreferrer\">howardsmith@howardsmithlaw.com<\/a><br \/><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3027166-1&amp;h=4213911982&amp;u=http%3A%2F%2Fwww.howardsmithlaw.com%2F&amp;a=www.howardsmithlaw.com\" rel=\"nofollow noopener noreferrer\">www.howardsmithlaw.com<\/a><\/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=PH38451&amp;sd=2021-01-06\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba-301201963.html\">http:\/\/www.prnewswire.com\/news-releases\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-alibaba-group-holding-limited-baba-301201963.html<\/a><\/p>\n<p>SOURCE  Law Offices of <span class=\"xn-person\">Howard G. Smith<\/span><\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=PH38451&amp;Transmission_Id=202101061200PR_NEWS_USPR_____PH38451&amp;DateId=20210106\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BENSALEM, Pa., Jan. 6, 2021 \/PRNewswire\/ &#8212; Law Offices of Howard G. Smith reminds investors of the upcoming January 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 (&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) securities between July 20, 2020 and November 3, 2020, inclusive (the &#8220;Class Period&#8221;). 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 is an online and mobile commerce company. Alibaba owns a 33% equity interest in Ant Small and Micro Financial &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-3\/\" 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-409716","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. Smith 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\/deadline-reminder-law-offices-of-howard-g-smith-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=\"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BENSALEM, Pa., Jan. 6, 2021 \/PRNewswire\/ &#8212; Law Offices of Howard G. Smith reminds investors of the upcoming January 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 (&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) securities between July 20, 2020 and November 3, 2020, inclusive (the &#8220;Class Period&#8221;). 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 is an online and mobile commerce company. Alibaba owns a 33% equity interest in Ant Small and Micro Financial &hellip; Continue reading &quot;Deadline Reminder: Law Offices of Howard G. 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Smith reminds investors of the upcoming January 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 (&#8220;Alibaba&#8221; or the &#8220;Company&#8221;) (NYSE: BABA) securities between July 20, 2020 and November 3, 2020, inclusive (the &#8220;Class Period&#8221;). 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 is an online and mobile commerce company. Alibaba owns a 33% equity interest in Ant Small and Micro Financial &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-3\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-06T17:03:21+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH38451&amp;sd=2021-01-06","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-3\/#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-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Deadline Reminder: Law Offices of Howard G. 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