Tue 12th Nov 2024 | Posted by Michaela Ligman, on News

On October 28, 2024, Glancy Prongay & Murray LLP, led by firm attorneys Kara Wolke and Melissa Wright, secured preliminary approval of a $433.5 million settlement on behalf of Alibaba investors. GPM filed the initial complaint in this case back in 2020 and serves as Lead Counsel. The settlement would be the largest securities class action settlement against a Chinese issuer, the twenty-first largest securities class action settlement in the Southern District of New York, and one of the fifty largest securities class action settlements in the U.S., since the PSLRA was enacted nearly thirty years ago. See: https://news.bloomberglaw.com/litigation/alibaba-to-pay-433-million-to-settle-antitrust-investor-suit