Securities Class Action Filed Against Alibaba Group Holding Limited

Violations of federal securities laws as a result of a series of materially false statements. The Complaint alleges that, during the Class Period, Defendants issued materially false and misleading statements regarding the soundness of the Company’s business operations, the strength of its financial prospects and concealing substantial ongoing regulatory scrutiny. Specifically, it is alleged that Alibaba failed to disclose that Company executives had met with China’s State Administration of Industry and Commerce (“SAIC”) in July 2014, just two months before Alibaba’s $25+ billion initial public offering in the United States (the “IPO”), and that regulators had then brought to Alibaba’s attention a variety of highly dubious – even illegal – business practices. In the IPO, Alibaba and certain “selling shareholders” sold more than 368 million ADSs at $68 each, and the Complaint alleges that selling shareholders included two of Alibaba’s co-founders, Jack Ma and Joseph Tsai, each of whom sold millions of shares. Throughout the Class Period, Alibaba’s ADSs continued trading at ever-increasing, artificially-inflated prices, reaching a Class Period high of $120 each in intra-day trading on November 13, 2014 and the Company raised another $8 billion in a debt offering in November 2014. The Complaint further alleges that on January 28, 2015, before the opening of trading, various members of the financial media reported that the SAIC had released a white paper accusing Alibaba of engaging in the very illegal conduct disclosed to Alibaba executives in July 2014. On this news, the price of Alibaba ADSs declined on an unusually high trading volume. It is alleged that on January 29, 2015, before the market opened, Alibaba issued a press release announcing its financial results for the quarter ended December 31, 2014. According to the Complaint, the Company blamed an inability to monetize growing transactions on its mobile platforms, where advertising is less profitable than on personal computers. As a result of these disclosures, the price of Alibaba ADSs plummeted further; collectively, the two drops erased more than $11 billion in market capitalization from the ADSs Class Period high. Filed in S.D.N.Y.

Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 3/31/2015.

Join This Action: To apply to join this action and be represented by Shepherd, Finkelman, Miller & Shah, LLP, please click here for a certification form to submit your information.

Send Us Information: If you have information about this action that you would like to provide us, please click here.

A Message to Our Clients About Coronavirus COVID-19:

A Message to Our Clients About Coronavirus COVID-19

At Shepherd, Finkelman, Miller & Shah, LLP, we view the safety and well-being of our clients, staff and business partners as our highest priority.

The situation regarding the COVID-19 virus is continually changing, and we are following all recommended guidelines to stay healthy. As a result, our lawyers and staff are working remotely in accordance with the CDC's recommendations. We continue to work for all of our clients and are happy to arrange for phone or video consultations. We are also able to exchange documents via secure drives or email.

Please contact us online or call 866-540-5505 with any questions.

Thank you and take care.