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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Alibaba Group Holding Limited of a Class Action Lawsuit and a Lead Plaintiff Deadline of January 12, 2021 - BABA

Newsfile Corp.
·2 min read

New York, New York--(Newsfile Corp. - November 20, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Alibaba Group Holding Limited ("Alibaba") (NYSE: BABA) between October 21, 2020 and November 3, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Southern District of New York. To get more information go to:

https://www.zlk.com/pslra-1/alibaba-group-holding-limited-loss-submission-form?prid=11111&wire=5

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Ant Small and Micro Financial Services Group Co., Ltd. ("Ant Group"), a financial technology company in which Alibaba owns a 33% equity interest, did not meet listing qualifications or disclosure requirements for certain material matters; (2) certain impending changes in the Fintech regulatory environment would impact Ant Group's business; (3) as a result of the foregoing, Ant Group's initial public offering was reasonably likely to be suspended; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you suffered a loss in Alibaba you have until January 12, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68656