BABA ALERT: Alibaba Group Holding Limited (BABA) Investors Urged to Contact Hagens Berman

Securities Class Action Filed; Firm Investigating Allegations of Undisclosed Chinese Military Ties and Fraudulent AI Distillation Attacks

San Francisco, California--(Newsfile Corp. - August 21, 2026) - Hagens Berman Sobol Shapiro LLP urges Alibaba Group Holdings Limited (NYSE: BABA) investors who suffered substantial losses submit their losses now.

A securities fraud class action lawsuit has been filed against Alibaba, and investors are encouraged to contact the firm regarding potential recoveries and lead plaintiff rights. The case, captioned Wistisen v. Alibaba Group Holding Limited, et al., No. 1:26-cv-06654 (S.D.N.Y.), accuses Alibaba and certain of its executive officers of violating the Securities Exchange Act of 1934.

Class Period: June 26, 2025 – June 24, 2026
Lead Plaintiff Deadline: Oct. 5, 2026
Visit: www.hbsslaw.com/cases/alibaba-group-holding-limited-baba-securities-class-action
Contact the Firm Now: [e-mail]
844-916-0895

Core Allegations

The lawsuit alleges that Alibaba and certain executives misrepresented and failed to disclose adverse facts pertaining to the Company's business which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

• Under the National Defense Authorization Act (NDAA), any entities directly or indirectly controlled by or affiliated with the Chinese Ministry of Industry and Information Technology (MIIT) were considered a Chinese military company;
• Alibaba was directly or indirectly controlled by or affiliated with the MIIT;
• The risk of Alibaba carrying out distillation attacks against third-party AI models was not a mere hypothetical or inadvertent, but ongoing; and
• As a result, Defendants' public statements about Alibaba's business, operations, and prospects were materially false and/or misleading at all relevant times.

The Truth Emerges

The truth regarding Alibaba's regulatory exposure and illicit business practices was revealed through a series of partial corrective disclosures:

• June 8, 2026: The U.S. Department of Defense added Alibaba to its list of Chinese military companies under the NDAA due to its ties to the MIIT. On this news, Alibaba ADSs fell $4.69 per share, or 3.9%, over two trading sessions.
• June 24, 2026: Bloomberg reported that Anthropic alerted U.S. officials that Alibaba fraudulently accessed Anthropic's Claude AI models via thousands of fake accounts to execute unauthorized "distillation" attacks to train its own models. On this news, Alibaba ADSs fell $4.73 per share, or 4.7%, to close at $95.07 on June 25, 2026.

The complaint alleges that as a result of Defendants' misleading statements and omissions, investors suffered substantial losses when the artificial inflation was removed from the stock.

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