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

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Company Name(s): 
Alibaba Group Holding
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January 30, 2015 (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 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 regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Alibaba Group Holding Ltd reported that its Total Revenue rose from over $1.9 billion for the 12 months period that ended on March 31, 2011 to over $8.40 billion for the 12 months period that ended on March 31, 2014 and that its Net Income for those respective time periods increased from $189.35 million to over $3.69 billion.

Shares of Alibaba Group Holding Ltd (NYSE:BABA) grew from $84.95 per share in October 2014 to as high as $119.15 per share in November 2014.

On January 28, 2015, an article published stating a scathing report by the State Administration for Industry & Commerce accused Alibaba Group Holding Ltd of allowing merchants to operate without required business licenses, to run unauthorized stores that co-opt famous brands and to sell fake wine and handbags.
"For a long time, Alibaba hasn't paid enough attention to the illegal operations on its platforms, and hasn't effectively addressed the issues," the government agency said. "Alibaba not only faces the biggest credibility crisis since its establishment, it also casts a bad influence for other Internet operators trying to operate legally."