May 20, 2024
Chinese e-commerce company Alibaba has again urged a New York federal judge not to certify a class of investors who claim they weren't warned about regulatory risks Alibaba faced in the lead-up to a $34 billion initial public offering of its fintech affiliate, saying the suit's challenged misstatements did not affect Alibaba's stock price.
January 22, 2024
Chinese e-commerce company Alibaba has urged a New York federal court to deny class certification in a shareholder suit accusing the company of failing to warn investors about regulatory risks it faced in the lead-up to a planned initial public offering of its fintech affiliate Ant Group, arguing the practices in question were not hidden and therefore did not affect share prices.
March 22, 2023
Jack Yun Ma, the founder and former CEO of Chinese tech giant Alibaba Group Holding Ltd., no longer faces claims in an investors' consolidated proposed class action alleging the company and certain of its executives failed to properly apprise investors about regulatory risks it faced in the lead-up to a planned $34 billion initial public offering of Chinese fintech Ant Group, a company in which it held a 33% interest.
July 22, 2022
Chinese tech giant Alibaba asked a New York federal judge Thursday to toss a consolidated investor class action complaint alleging the company and its executives hurt shareholders after a fintech company in which Alibaba owns an equity interest abruptly suspended plans for a $34 billion initial public offering following scrutiny from Chinese regulators.
February 10, 2022
Glancy Prongay & Murray LLP will represent a proposed class of investors in Alibaba who allege the Chinese technology giant and two of its executives hurt shareholders after a fintech company in which Alibaba owns an equity interest abruptly suspended plans for a $34 billion initial public offering following scrutiny from Chinese regulators.
January 27, 2021
Two of the remaining Alibaba investor groups vying for lead status criticized a third group as "assembled as makeshift by attorneys" Tuesday in their fight to represent a proposed class suing the Chinese e-commerce giant for allegedly hiding details that led to Chinese regulators stopping affiliated payment provider Ant Group's estimated $34 billion initial public offering.
January 13, 2021
Alibaba investors competing to lead a proposed class in three suits against the Chinese e-commerce giant urged a New York federal judge Tuesday to consolidate the actions, which accuse the company of hiding details that led to regulators in China stopping affiliated payment provider Ant Group's estimated $34 billion initial public offering.
November 13, 2020
Alibaba was hit with an investor class action Friday accusing the e-commerce company of hiding business factors that led to Chinese regulators halting affiliated payment provider Ant Group's estimated $34 billion initial public offering and a subsequent drop in Alibaba's stock price.