An investigation for investors in NYSE:BABA shares over potential securities laws violations by Alibaba Group Holding Ltd and certain of its directors and officers was announced.
Investors who purchased shares of Alibaba Group Holding Ltd (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 Ltd (NYSE:BABA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On May 24, 2016, Alibaba Group Holding Ltd filed an Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (“SEC”) announcing the Company’s financial and operating results for fiscal year 2016. In its Annual Report, Alibaba Group Holding Ltd disclosed that the SEC had requested information relating to “consolidation policies and practices (including [the Company’s] accounting for Cainiao Network as an equity method investee”) and “policies and practices applicable to related party transactions in general, and [the Company’s] reporting of operating data from Singles Day” (a popular online shopping holiday in China).
Shares of Alibaba Group Holding Ltd (NYSE:BABA) closed on June 3, 2016, at $76.62 per share.
Those who purchased NYSE:BABA shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com