Hagens Berman says it filed Alibaba securities fraud class action
Hagens Berman says it filed a securities fraud class action against Alibaba Group Holding Limited and is seeking a lead plaintiff by Oct. 5, 2026.
Hagens Berman Sobol Shapiro LLP says it has filed a securities fraud class action against Alibaba Group Holding Limited and is asking certain investors to seek lead plaintiff status by Oct. 5, 2026.
The firm says investors who bought or acquired Alibaba securities during the class period cited in the lawsuit do not need to seek lead plaintiff status to share in any potential recovery.
What the lawsuit says
According to the PR Newswire release, the case is captioned Wistisen v. Alibaba Group Holding Limited, et al., No. 1:26-cv-06654 in the U.S. District Court for the Southern District of New York. The source says the class period runs from June 26, 2025, through June 24, 2026.
The release says the lawsuit accuses Alibaba and certain executive officers of violating the Securities Exchange Act of 1934. It alleges that the company and certain executives made false or misleading statements and omitted adverse facts about the business, including claims tied to Alibaba’s regulatory exposure and alleged illicit business practices.
Background
The source says Reed Kathrein, a Hagens Berman partner, is leading the investigation. In the release, Kathrein said the firm is examining whether Alibaba executives intentionally concealed the company’s regulatory ties and engaged in fraudulent operational practices to mislead the market about the company’s risk profile and competitive position.
The release also refers readers to the SEC Whistleblower program, saying eligible whistleblowers may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
What happens next
According to the source, investors who want the court to appoint them lead plaintiff have until Oct. 5, 2026, to seek that status. The release says the broader class action remains open to investors who meet the stated class-period criteria.
Sources
Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
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