If you have suffered a loss on your Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) investment, contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost.

Investors have until October 5, 2026 to ask the Court to appoint them as lead plaintiff. Courts do not consider applications filed after this deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions. Learn more about the lead plaintiff process and eligibility requirements here.

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is The Lawsuit About?

The lawsuit has been filed on behalf of investors who purchased securities during the period of June 26, 2025 and June 24, 2026, inclusive (“the Class Period”). The lawsuit alleges that Alibaba made materially false and/or misleading statements, as well as failed to disclose adverse facts, including that: (i) under the National Defense Authorization Act, any entities directly or indirectly controlled or affiliated with the Chinese Ministry of Industry and Information Technology (“MIIT”) were considered a Chinese military company; (ii) Alibaba was directly or indirectly controlled by or affiliated with the MIIT; and (iii) the risk of Alibaba carrying out distillation attacks against third-party AI models was ongoing.

On June 8, 2026, the U.S. Department of Defense released an updated list identifying Chinese military companies. Alibaba was included on that list due to its direct or indirect control by or affiliation with the MIIT. On this news, the price of Alibaba’s ADSs dropped $4.69 per ADS, or 3.9%, over two trading days to close at $115.38 on June 10, 2026.

On June 24, 2026, Bloomberg published an article titled “Anthropic Accuses Alibaba of ‘Illicitly’ Accessing AI Models.” The article reported that Anthropic accused Alibaba of “waging a large-scale effort to ‘illicitly’ access its Claude artificial intelligence model using thousands of fraudulent accounts.” Additionally, “Anthropic warned that Alibaba and other Chinese labs are making systematic and unauthorized use of results from leading US models to develop a rival generation of chatbots at a fraction of the cost via a practice known as adversarial distillation.” On this news, the price of Alibaba’s ADSs fell $2.80 per ADS, or 2.7%, to close at $99.80 on June 24, 2026. The Company’s stock price fell a further $4.73 per ADS, or 4.7%, to close at $95.07 on June 25, 2026.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

What Should I Do?

If you purchased or otherwise acquired Alibaba securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

[WHAT IS A SECURITIES CLASS ACTION?]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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