Hagens Berman files Alibaba securities class action, sets Oct. 5 lead plaintiff deadline
Hagens Berman says it filed a securities fraud class action against Alibaba and is urging investors who bought the company’s securities during a stated class period to contact the firm before an Oct. 5, 2026 deadline.
Hagens Berman Sobol Shapiro LLP says it has filed a securities fraud class action against Alibaba Group Holding Limited and is asking investors who bought Alibaba securities during the stated class period to contact the firm before Oct. 5, 2026.
PR Newswire said in a Sept. 1, 2026, release that the case, Wistisen v. Alibaba Group Holding Limited, et al., was filed in the U.S. District Court for the Southern District of New York. The release says the complaint accuses Alibaba and certain executive officers of violating the Securities Exchange Act of 1934.
The case covers investors who bought or acquired Alibaba securities between June 26, 2025, and June 24, 2026, the class period stated in the release. Hagens Berman said investors who suffered significant losses may ask the court to appoint them lead plaintiff, but the release also said lead plaintiff status is not required to share in any potential recovery.
The release says the lawsuit alleges Alibaba and certain executives misrepresented or failed to disclose adverse facts about the company’s business. It also says the complaint centers on claims about Alibaba’s regulatory exposure and illicit business practices, and that the truth emerged through a series of partial corrective disclosures. The release says investors suffered substantial losses when what it called artificial stock-price inflation was removed.
According to the release, Reed Kathrein, a Hagens Berman partner leading the investigation, said the firm is investigating 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 gives investors a lead plaintiff deadline of Oct. 5, 2026. It also directs investors to the firm’s website and contact information, and says whistleblowers with non-public information may consider the SEC Whistleblower program, which can provide awards of up to 30 percent of a successful SEC recovery.
Hagens Berman said it has secured more than $2.9 billion in this area of law, according to the release.
Sources
Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
Comments ()