Investigation announced for Investors in Alibaba Group Holding Limited (NYSE: BABA) shares
An investigation for investors in Alibaba Group Holding Limited (NYSE: BABA) shares over potential securities laws violations.
Investors who purchased shares of Alibaba Group Holding Limited (NYSE: BABA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Alibaba Group Holding Limited regarding Ant Small and Micro Financial Services Group Co., Ltd’s business, its prospects and its operations were materially false and misleading at the time they were made.
Alibaba Group Holding Limited owns a 33% equity interest in Ant Small and Micro Financial Services Group Co., Ltd. ("Ant Group"), an online microlending company that operates Alipay, one of the largest mobile and online payments platforms.
On or about October 26, 2020, Ant Group priced its initial public offering ("IPO") to list its shares on the Shanghai and Hong Kong stock exchanges. The IPO was set to raise $34.5 billion.
On November 3, 2020, Ant Group’s IPO was suspended following a meeting between its controller Jack Ma, executive chairman Eric Jing, Chief Executive Officer Simon Hu and regulatory authorities in China. According to the Shanghai Stock Exchange, Ant Group had "reported significant issues such as the changes in financial technology regulatory environment," which "may result in [the] company not meeting the conditions for listing or meeting the information disclosure requirements."
Shares of Alibaba Group Holding Limited (NYSE: BABA) declined from $315.58 per share on October 29, 2020, to as low as $264.33 per share on November 10, 2020.
Those who purchased shares of Alibaba Group Holding Limited (NYSE: BABA) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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