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The past 30 days have been the toughest for Alibaba Group Holding Ltd since the company went public in September. Criticism from Chinese regulators, disappointing revenues, and a barrage of lawsuits have pulled down Alibaba stock nearly 17 percent in the preceding month, to around $86—close to its all-time low share price of $82.81.
On Friday, there was a fresh addition to the class action lawsuits filed against Alibaba Group. A New York-based law firm, Pomerantz, accused the Chinese e-commerce firm of negligence in disclosing correct information prior to its initial public offering (IPO).
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