Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $500,000 Investing In Alibaba Group Holding Limited (BABA) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) of the March 31, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Alibaba, and certain officers of the Company.
A complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased Alibaba American Depository Shares (“ADS”) between October 21, 2014 and January 28, 2015 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Alibaba failed to disclose that executives of the Company had been warned by Chinese regulators that some of Alibaba’s business practices were highly dubious.
On January 28, 2015, various media reports indicated that China’s main corporate regulator had released a white paper accusing the Company of engaging in illegal conduct.
Following this news, the price of Alibaba ADS declined by $8.64 per ADS, or over 8%, to close on January 29, 2015 at $89.81 per ADS.
If you invested in Alibaba ADS or options between October 21, 2014 and January 28, 2015 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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