Alibaba Group Holding Limited investors who bought or acquired publicly traded securities between June 26, 2025 and June 24, 2026 have until October 5, 2026 to seek appointment as lead plaintiff in a securities class action, Robbins Geller Rudman & Dowd LLP said. The case, captioned Wistisen v. Alibaba Group Holding Limited, No. 26-cv-06654 (S.D.N.Y.), alleges violations of the Securities Exchange Act of 1934 by Alibaba and Alibaba's Chief Executive Officer. The complaint says the company made false or misleading statements, or omitted material information, including allegations concerning links to the Chinese Ministry of Industry and Information Technology and the risk of distillation attacks (extracting capabilities from AI models) against third-party AI systems. The filing points to two alleged corrective events: a June 8, 2026 U.S. Department of Defense list identifying Chinese military companies that allegedly included Alibaba, after which Alibaba ADSs fell nearly 4%, and a June 24, 2026 Bloomberg report on claims by Anthropic involving unauthorized access to AI model capabilities, after which Alibaba ADSs fell 2.7% and then 4.7% the next day, according to the complaint. Under the Private Securities Litigation Reform Act of 1995, the lead plaintiff is generally the investor with the largest financial interest who can adequately represent the proposed class.