Alibaba Group Holding Ltd (NYSE:BABA) Investor Investigation Concerning Possible Violations Of Securities Laws Announced

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Company Name(s): 
Alibaba Group Holding
Affected Securities: 
NYSE: BABA

May 27, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Alibaba Group Holding Ltd (NYSE:BABA) shares over potential securities laws violations by Alibaba Group Holding Ltd and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Alibaba Group Holding Ltd (NYSE:BABA) concerning whether a series of statements by Alibaba Group Holding Ltd (NYSE:BABA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On May 24, 2016, Alibaba Group Holding Ltd filed an Annual Report on Form 20-F with the U.S. Securities and Exchange Commission ("SEC") announcing the Company's financial and operating results for fiscal year 2016. In its Annual Report, Alibaba Group Holding Ltd disclosed that the SEC had requested information relating to "consolidation policies and practices (including [the Company's] accounting for Cainiao Network as an equity method investee") and "policies and practices applicable to related party transactions in general, and [the Company's] reporting of operating data from Singles Day" (a popular online shopping holiday in China).