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Case Status:    ONGOING    
On or around 11/17/2020 (Date of last review)

Filing Date: November 13, 2020

According to the Complaint, Alibaba is an online and mobile commerce company. Alibaba owns a 33% equity interest in Ant Small and Micro Financial Services Group Co., Ltd. (“Ant Group”), a financial technology company that is best known for operates Alipay, one of the largest mobile and online payments platforms.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (2) that certain impending changes in the Fintech regulatory environment would impact Ant Group’s business; (3) that, as a result of the foregoing, Ant Group’s IPO was reasonably likely to be suspended; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: BABA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 20-CV-09568
JUDGE: Hon. George B. Daniels
DATE FILED: 11/13/2020
CLASS PERIOD START: 10/21/2020
CLASS PERIOD END: 11/03/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP (NY)
  2. The Law Offices of Frank R. Cruz
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available