INVESTOR ALERT: Investors of Alibaba Group Holding Limited With Losses of $1 Million or More Are Encouraged to Contact Law Of...
January 29 2015 - 04:32PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Alibaba
Group Holding Limited (“Alibaba” or the “Company”) (NYSE:BABA)
concerning possible violations of federal securities laws.
Investors who have losses of $1 million or more are encouraged to
contact the firm for more information.
Alibaba Group is based in Hangzhou, China, and through its
subsidiaries operates as an online and mobile commerce company in
the People’s Republic of China and internationally. A report issued
January 28, 2015 by China’s State Administration for Industry and
Commerce (SAIC) alleges that the Company “has long paid
insufficient attention to the illegal business activities on
Alibaba platforms.” The SAIC − a government regulatory agency that
operates in a supervisory role over online trading platforms and
business in China − alleges that many products sold on Alibaba’s
e-commerce websites and services infringed upon trademarks, were
substandard or fake, were banned or endangered public security.
According to Reuters.com, the SAIC report summarized a July 16,
2014 meeting between Chinese government business regulators and
Alibaba. Following this news, in intraday trading on January 29,
2015, Alibaba shares dropped more than 8% below the previous
closing price.
If you purchased Alibaba shares and suffered losses of $1
million or more and would like to learn more about these claims, or
if you have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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