Frank R. Cruz notice seeks Alibaba investors for securities fraud class action

A PR Newswire notice says the Law Offices of Frank R. Cruz is seeking investors who lost money in Alibaba Group Holding Limited to join a securities fraud class action before an Oct. 5, 2026, lead plaintiff deadline.

The notice says the firm is contacting investors who suffered losses in Alibaba Group Holding Limited (BABA) and may want to participate in an ongoing securities fraud class action. It says the deadline to seek lead plaintiff status is Oct. 5, 2026.

The notice says class members do not need to take action immediately and may retain counsel or remain absent members of the class.

According to the PR Newswire release, the complaint covers the period from June 26, 2025, through June 24, 2026. It alleges defendants made materially false and/or misleading statements and failed to disclose adverse facts about Alibaba's business, operations and prospects.

The notice also alleges that entities directly or indirectly controlled by or affiliated with the MIIT were considered a Chinese military company under the NDAA, and that Alibaba was directly or indirectly controlled by or affiliated with the MIIT. It further alleges the risk of Alibaba carrying out distillation attacks against third-party AI models was ongoing rather than hypothetical or inadvertent.

The release says the defendants' positive statements about Alibaba's business, operations and prospects lacked a reasonable basis. It also says the press release may be considered attorney advertising in some jurisdictions.

The notice provides contact information for the Law Offices of Frank R. Cruz, including a phone number, email address, website and social media account.

The notice says investors who want to seek lead plaintiff status must do so by Oct. 5, 2026.

Sources

• PR Newswire press release

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.