Pomerantz LLP, an American law firm, has announced an investigation into Chinese online commerce company Alibaba.
According to several media reports, the State Administration for Industry and Commerce has accused Alibaba of violating several sections of the Securities Exchange Act. Several allegations have been made against the company, including allowing merchants to operate without business licenses; running unauthorized stores that co-opt famous brands; and allowing stores to sell fake goods such as wine and handbags.
Alibaba’s share prices have decreased by 9.28 percent since the news broke on January 28.
Pomerantz LLP is one of New York’s leading law firms and specializes in corporate, securities and anti-trust litigation.
Source: Tencent
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Keywords: American law Firm investigates Alibaba
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Hahaha, welcome, Rosen. "The Rosen Law Firm, which concentrates its practice in securities class action suits, said in a statement Thursday that it was "investigating potential securities claims"against Alibaba, China's largest e-commerce company. Rosen said it is preparing a lawsuit against Alibaba to recover shareholder losses stemming from misinformation. Pomerantz LLP, which focuses on corporate, securities and antitrust class litigation, also said it also was looking into claims against Alibaba on behalf of investors. The investigation will center on whether or not Alibaba and some of its officers have violated portions of the Securities Exchange Act of 1934. At issue could be whether Alibaba should have disclosed in a Securities and Exchange Commission filing that it was being investigated by the Chinese government over counterfeit goods sold through its Taobao Marketplace website (taobao.com)". m.chinadaily.com.cn/en/2015-01/30/content_19449265.htm Hahaha, concealing vital information, false and misleading financial statements. All these remind me of the fake Peking University student id cards a bunch of 17-18 years old in Shenzhen used trying to con me, those fake id cards costed 5 rmb each back then. They said they were exchange students coming back from Hong Kong University who lost their luggage and purses, asking me for money to buy plane tickets back to Beijing. You don't have to be a Freud or Jung to predict what they have become, about the right age too. I wouldn't be surprised to hear they are in USA.
Jan 30, 2015 22:09 Report Abuse
Ali Baba: where I come from hongbaos open any door. Don't yankees take bribes? Sesame sesame open! (nothing happens) Open Sesame! (voice from above....NO FAKE SESAME) Ooopps.
Jan 30, 2015 20:02 Report Abuse
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