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Glancy Prongay & Murray LLP Secures Record-Setting $433.5 Million Recovery in Alibaba Investor Lawsuit

1. Alibaba approved a $433.5 million securities class action settlement. 2. The settlement addresses claims of regulatory misrepresentation and monopolistic practices.

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FAQ

Why Bearish?

The settlement indicates potential legal vulnerabilities, similar to past cases that led to stock declines.

How important is it?

The settlement affects BABA's financials and market perception significantly due to its size and implications.

Why Short Term?

Near-term investor sentiment may be negatively influenced by legal uncertainties and reputational damage.

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LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray has secured final approval of an historic $433.5 million settlement in the Alibaba Group Holding Limited securities class action. The settlement resolves investors' claims that Alibaba (NYSE: BABA) violated the Securities Exchange Act of 1934 by allegedly misrepresenting its regulatory compliance and its use of monopolistic business practices during the period November 13, 2019 through December 23, 2020. The settlement is the largest sec.

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