NEW YORK, Jan. 29, 2015 /PRNewswire/ -- Bronstein, Gewirtz
& Grossman, LLC is investigating potential claims on behalf of
purchasers of the securities of Alibaba Group Holding Limited
("Alibaba" or the "Company") (NYSE: BABA -News). Such
investors are advised to contact Peretz
Bronstein or his investor relations coordinator Eitan Kimelman at info@bgandg.com or
212-697-6484.
The investigation concerns whether Alibaba and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
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.
On this news, shares of Alibaba fell $8.64, or 8.78%, to close at $89.81 on January 29,
2015
If you are aware of any facts relating to this investigation, or
purchased shares of Alibaba, you can assist this investigation by
contacting Peretz Bronstein or his
Investor Relations Coordinator Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email info@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address, email
and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC