SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

October 07, 2015 12:52 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Alibaba Group Holding Limited of Pendency of Class Action Lawsuit -- BABA

NEW YORK, NY--(Marketwired - Oct 7, 2015) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired American Depositary Shares of Alibaba Group Holding Limited ("Alibaba") (NYSE: BABA) pursuant or traceable to the registration statement and prospectus issued in connection with Alibaba's September 2014 Initial Public Offering

You are hereby notified that a securities class action lawsuit has been commenced in California Superior Court for the County of San Mateo. If you purchased or otherwise acquired Alibaba American Depositary Shares pursuant to the IPO, your rights may be affected by this action. To get more information go to:

http://zlk.9nl.com/alibaba

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Complaint alleges that the Registration Statement contained materially false information and/or omitted material information. In particular, it is alleged that the Registration Statement failed to disclose that Alibaba executives had met with China's State Administration of Industry and Commerce in July 2014 relating to a variety of illegal business practices. It is also alleged that the Registration Statement did not adequately describe the risk posed by Alibaba's already occurring violations and illegal practices and the intense regulatory scrutiny thereby, nor the likely and consequent material adverse effects on the Company's future results and prospects. Lastly, defendants failed to disclose that Alibaba was already the subject of administrative law enforcement proceedings that created imminent and material risks to its business operations, and which likely would have a material effect on its revenue, income and share price, as well as the expected adverse consequences.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com