NEW YORK--(BUSINESS WIRE)--Labaton Sucharow LLP, a nationally ranked and award-winning investor rights law firm, announces it is developing a proprietary investigation concerning potential securities claims on behalf of shareholders of Alibaba (NYSE: BABA) resulting from allegations that Alibaba may have issued materially misleading business information to the investing public.
On December 24, 2020, shares of Alibaba fell as reports surfaced that the Chinese government is conducting an anti-monopoly probe into the tech giant. China’s State Administration for Market Regulation said through official online channels it has opened an investigation into Alibaba over monopolistic practices. The primary issue named was a practice that forces merchants to choose one of two platforms, rather than being able to work with both. On this news, Alibaba is down over 13% on extraordinary volume.
If you are a shareholder or option holder that suffered losses in Alibaba, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at dschwartz@labaton.com.
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Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.