Alibaba Group Holding Limited NYSE: BABA

A securities class action has been filed on behalf of investors who purchased or otherwise acquired Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) securities between June 26, 2025 and June 24, 2026, inclusive (the “Class Period”).

The complaint alleges that defendants made materially false and misleading statements and omissions regarding Alibaba's business operations, growth prospects, and financial stability, which caused Alibaba securities to trade at artificially inflated prices during the Class Period.

After the close on June 8, 2026, the U.S. Department of Defense released an updated list of Chinese military companies that included Alibaba, based on its alleged affiliation with the Chinese Ministry of Industry and Information Technology. On this news, Alibaba's American Depositary Shares (“ADSs”) fell approximately 3.9% over two trading days, to close at $115.38 on June 10, 2026.

Then, shortly before the close on June 24, 2026, Bloomberg reported that Anthropic had accused operators linked to Alibaba's Qwen AI lab of a large-scale effort to illicitly access Anthropic's Claude AI models using thousands of fraudulent accounts — reportedly around 28.8 million exchanges through roughly 25,000 fraudulent accounts between April and June 2026 — targeting capabilities including software engineering and agentic reasoning, in a manner the complaint alleges undermined Anthropic's decision to keep its products out of China. On this news, Alibaba's ADS price fell $2.80, or 2.7%, to close at $99.80 on June 24, 2026, and fell a further $4.73, or 4.7%, to close at $95.07 on June 25, 2026 — a decline of roughly 45% from the Class Period high.