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MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding Limited    BABA

ALIBABA GROUP HOLDING LIMITED

(BABA)
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Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)

11/19/2020 | 12:31pm EST

Law Offices of Howard G. Smith reminds investors of the upcoming January 12, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) securities between October 21, 2020 and November 3, 2020 inclusive (the “Class Period”).

Investors suffering losses on their Alibaba investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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 operating Alipay, one of the largest mobile and online payments platforms.

On July 20, 2020, Ant Group announced that it had begun the process of a concurrent initial public offering (“IPO”) on the Shanghai and Hong Kong stock exchanges.

On October 26, 2020, Ant Group priced its IPO and was set to raise $34.5 billion, making it the largest public offering in history.

On November 2, 2020, Financial Times reported that Chinese regulators had met with Ant Group’s controller Jack Ma, executive chairman Eric Jing, and Chief Executive Officer Simon Hu. The article stated that, though regulators did not provide details, “the Chinese word used to describe the interview – yuetan – generally indicates a dressing down by authorities.” The article also included a statement from Ant Group that it will “implement the meeting opinions in depth.”

On November 3, 2020, the IPO was suspended because Ant Group “may not meet listing qualifications or disclosure requirements due to material matters” related to the meeting with regulators the previous day and “the recent changes in the Fintech regulatory environment.”

On this news, the Company’s share price fell $25.27, or 8%, to close at $285.57 per share on November 3, 2020, thereby injuring investors.

The complaint filed in this class action 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.

If you purchased or otherwise acquired Alibaba securities during the Class Period, you may move the Court no later than January 12, 2021 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, 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 www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2020
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Financials
Sales 2021 698 B 108 B 108 B
Net income 2021 150 B 23 077 M 23 077 M
Net cash 2021 414 B 63 825 M 63 825 M
P/E ratio 2021 29,6x
Yield 2021 -
Capitalization 4 268 B 659 B 659 B
EV / Sales 2021 5,52x
EV / Sales 2022 4,09x
Nbr of Employees 122 399
Free-Float 99,7%
Chart ALIBABA GROUP HOLDING LIMITED
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Alibaba Group Holding Limited Technical Analysis Chart | BABA | US01609W1027 | MarketScreener
Technical analysis trends ALIBABA GROUP HOLDING LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Average target price 2 159,07 CNY
Last Close Price 1 577,62 CNY
Spread / Highest target 58,9%
Spread / Average Target 36,9%
Spread / Lowest Target 10,6%
EPS Revisions
Managers and Directors
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chung Hsin Tsai Executive Vice Chairman
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