Hagens Berman Sobol Shapiro LLP is urging Alibaba Group Holding Limited (NYSE: BABA) investors who suffered substantial losses to contact the firm after a securities fraud class action was filed in the Southern District of New York. The case, Wistisen v. Alibaba Group Holding Limited, et al., No. 1:26-cv-06654 (S.D.N.Y.), accuses Alibaba and certain executive officers of violating the Securities Exchange Act of 1934. Investors who acquired Alibaba securities during the June 26, 2025, to June 24, 2026, class period have until Oct. 5, 2026, to seek appointment as lead plaintiff, although lead plaintiff status is not required to participate in any potential recovery. The complaint alleges that Alibaba and the executives misrepresented or failed to disclose risks involving the National Defense Authorization Act, Alibaba’s alleged ties to China’s Ministry of Industry and Information Technology, and alleged ongoing distillation attacks against third-party AI models. It cites two partial corrective disclosures: the U.S. Department of Defense’s June 8, 2026, addition of Alibaba to its list of Chinese military companies, after which Alibaba ADSs fell $4.69, or 3.9%, over two trading sessions; and a June 24, 2026, Bloomberg report that Anthropic alerted U.S. officials to alleged fraudulent access to its Claude AI models through thousands of fake accounts. Alibaba ADSs fell $4.73, or 4.7%, to close at $95.07 on June 25, 2026. Hagens Berman partner Reed Kathrein said the firm is investigating whether Alibaba executives concealed regulatory ties and fraudulent operational practices. The firm also invited whistleblowers with non-public information to consider the SEC Whistleblower program, which may provide rewards of up to 30% of a successful SEC recovery.