Frequently Asked Questions

Please see the answers below to the most common questions we receive about the Alibaba class action. If you have a question that is not answered below, please contact us for assistance.

What is this lawsuit about?

The MDL Action is known as Christine Asia Co. Ltd., et al. v. Jack Yun Ma, et al., No.: 1:15-md-02631-CM (SDA), and the Court in charge of the case is the United States District Court for the Southern District of New York. Among other things, the MDL Action is about whether Defendants (Alibaba, Jack Yun Ma, Joseph Tsai, Jonathan Zhaoxi Lu, and Maggie Wei Wu) violated the federal securities laws by making false and misleading statements and omissions in the Registration Statement for Alibaba’s September 19, 2014 Initial Public Offering.  A more detailed description of the MDL Action is set forth in the Notice.

How do I know if I am part of the Settlement?

The Class consists of: 

all persons and/or entities that purchased or otherwise acquired Alibaba ADS, or purchased call options or sold put options on Alibaba ADS between September 19, 2014 and January 28, 2015, inclusive, other than those shares purchased directly in the September 19, 2014 IPO.

Are there exceptions to being included?

Yes. Excluded from the Class are: (a) persons who suffered no compensable losses; and (b) Defendants; the present and former officers and directors of Alibaba at all relevant times; members of their Immediate Families and their legal representatives, heirs, successors, or assigns, and any entity in which any of the Defendants, or any person excluded under this subsection (b), has or had a majority ownership interest at any time.

What is the settlement fund?

Pursuant to the Settlement, Defendants have agreed to pay or caused to be paid two hundred and fifty million dollars ($250,000,000).  The Settlement Amount will be deposited into an escrow account.  The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.”  If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (that is, the Settlement Fund less (a) all federal, state and/or local taxes on any income earned by the Settlement Fund and the reasonable costs incurred in connection with determining the amount of and paying taxes owed by the Settlement Fund (including reasonable expenses of tax attorneys and accountants); (b) the costs and expenses incurred in connection with providing notice to Class Members and administering the Settlement on behalf of Class Members; and (c) any attorneys’ fees and Litigation Expenses awarded by the Court) will be distributed to Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve.

How do I know if my Alibaba ADS or option transaction is eligible?

The Plan of Allocation contained in the Notice starting on page 10 contains the full details of how your Recognized Loss will be calculated.  If you would like to view a guide to help determine if your transaction may or may not be eligible, you can view the guide HERE.

How can I get a payment?

To be eligible for a payment from the proceeds of the Settlement, you must timely send in a form entitled “Proof of Claim and Release Form,” which can be found by clicking here.  Read the instructions carefully, fill out the form, sign it in the location indicated, and mail the Claim Form with adequate supporting documentation, postmarked no later than September 3, 2019, to the Claims Administrator, at: Christine Asia Co. Ltd. et al. v. Jack Yun Ma et al., c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063 or click here to file a claim form online. The Claims Administrator will process your claim and determine whether you are an Authorized Claimant.

How do I get out of the Settlement?

Each Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written Request for Exclusion from the Class to: EXCLUSIONS—Christine Asia Co. Ltd. et al. v. Jack Yun Ma et al., c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063.  The exclusion request must be received no later than September 25, 2019.  You will not be able to exclude yourself from the Class after that date.  Each Request for Exclusion must (a) state the name, address and telephone number of the person or entity requesting exclusion, and in the case of entities the name and telephone number of the appropriate contact person; (b) state that such person or entity “requests exclusion from the Class in Christine Asia Co. Ltd. et al. v. Jack Yun Ma et al., Master File No. 1:15-md-02631-CM (SDA)”; (c) identify and state the number of Alibaba ADS, Alibaba Call Options, and/or Alibaba Put Options that the person or entity requesting exclusion purchased, acquired and sold during the Class Period (i.e., between September 19, 2014 and January 28, 2015, inclusive, other than those shares purchased directly in the September 19, 2014 IPO), as well as the dates and prices of each such purchase/acquisition and sale; (d) provide adequate supporting documentation for the transactions for which the Class Member seeks exclusion in the form of broker confirmation slips, broker account statements, an authorized statement from the broker containing the transactional and holding information found in a broker confirmation slip or account statement, or such other documentation as is deemed adequate by Lead Counsel and Defendants’ Counsel; and (e) be signed by the person or entity requesting exclusion or an authorized representative.  A Request for Exclusion shall not be valid and effective unless it provides all the information and documentation called for in this paragraph and is received within the time stated above, or is otherwise accepted by the Court.  A Request for Exclusion also shall not be valid and effective if it is received by the Claims Administrator after September 25, 2019 even if it contains all the information and documentation called for in this paragraph.

If you do not want to be part of the Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiffs’ Claim against any Defendants’ Releasee.

If you ask to be excluded from the Class, you will not be eligible to receive any payment out of the Net Settlement Fund.

Do I have a lawyer in this case?

The Court appointed The Rosen Law Firm, P.A. as Lead Counsel to represent you and the other Class Members. Contact information for Lead Counsel is provided below. If you want to be represented by your own lawyer, you may hire one at your own expense.

Do I have to come to the Hearing? May I speak at the Hearing if I don’t like the Settlement?

Class Members do not need to attend the Settlement Hearing.  The Court will consider any submission made in accordance with the provisions below even if a Class Member does not attend the hearing.  You can participate in the Settlement without attending the Settlement Hearing.

Any Class Member who or which does not request exclusion may object to the Settlement, the proposed Plan of Allocation or Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses.  Objections must be in writing.  You must file any written objection, together with copies of all other papers and briefs supporting the objection, with the Clerk’s Office at the United States District Court for the Southern District of New York at the address set forth below on or before September 25, 2019.  You must also serve the papers on Lead Counsel and on Defendants’ Counsel at the addresses set forth below so that the papers are received on or before September 25, 2019.

Clerk’s Office

United States District Court for the Southern District of New York
Clerk of the Court
Daniel Patrick Moynihan
United States Courthouse
500 Pearl Street
New York, NY  10007-1312

Lead Counsel

The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
275 Madison Ave., 34th Floor
New York, NY  10016

Defendants’ Counsel

Simpson Thacher & Bartlett LLP
James G. Kreissman, Esq.
Stephen P. Blake, Esq.
2475 Hanover Street
Palo Alto, CA 94304

Any objection (a) must state the name, address and telephone number of the person or entity objecting and must be signed by the objector; (b) must contain a statement of the Class Member’s objection or objections, and the specific reasons for each objection, including any legal and evidentiary support the Class Member wishes to bring to the Court’s attention; (c) must include documents sufficient to prove membership in the Class, including the number of Alibaba ADS, Alibaba Call Options, and/or Alibaba Put Options that the objecting Class Member purchased, acquired and/or sold during the Class Period (i.e., between September 19, 2014 and January 28, 2015, inclusive, other than those shares purchased directly in the September 19, 2014 IPO), as well as the dates and prices of each such purchase/acquisition and/or sale; and (d) the name, address, and telephone number of all counsel who represent the Class Member, including former or current counsel who may be entitled to compensation in connection with the objection, (e) a statement confirming whether they plan to appear at the Settlement Hearing, (f) the name, address, and telephone number of any counsel that will appear at the Settlement Hearing, and (g) the number of times a Class Member filed an objection in the previous five years and the nature of each objection to each case in which a Class Member filed an objection in the previous five years.  You may not object to the Settlement, the Plan of Allocation or Plaintiffs’ Counsel’s motion for attorneys’ fees and reimbursement of Litigation Expenses if you exclude yourself from the Class or if you are not a member of the Class.

You may file a written objection without having to appear at the Settlement Hearing.  You may not, however, appear at the Settlement Hearing to present your objection unless you first file and serve a written objection in accordance with the procedures described above, unless the Court orders otherwise.

If you wish to be heard orally at the hearing in opposition to the approval of the Settlement, the Plan of Allocation or Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses, and if you timely file and serve a written objection as described above, you must also file a notice of appearance with the Clerk’s Office and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth above so that it is received on or before September 25, 2019.  Persons who intend to object and desire to present evidence at the Settlement Hearing must include in their written objection or notice of appearance the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the hearing.  Such persons may be heard orally at the discretion of the Court.

You are not required to hire an attorney to represent you in making written objections or in appearing at the Settlement Hearing.  However, if you decide to hire an attorney, it will be at your own expense, and that attorney must file a notice of appearance with the Court and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth above so that the notice is received on or before September 25, 2019.

Unless the Court orders otherwise, any Class Member who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement, the proposed Plan of Allocation or Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses.Class Members do not need to appear at the Settlement Hearing or take any other action to indicate their approval of the Settlement.

When and where will the Court decide whether to approve the Settlement?

The Settlement Hearing will be held on October 16, 2019 at 10:00 a.m., before the Honorable Colleen McMahon at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, Courtroom 24A, 500 Pearl St., New York, NY 10007.  The Court reserves the right to approve the Settlement, the Plan of Allocation, Lead Counsel’s motion for an award of attorneys’ fees and reimbursement of Litigation Expenses and/or any other matter related to the Settlement at or after the Settlement Hearing without further notice to the members of the Class.

How do I get more information about the proposed Settlement?

For more detailed information about the matters involved in this Action, you are referred to the papers on file in the MDL Action, including the Stipulation, which may be inspected during regular office hours at the Office of the Clerk, United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007.  Additionally, copies of the Stipulation and any related orders entered by the Court will be posted on the website maintained by the Claims Administrator here.

Is this a separate class action than the class action that was filed on behalf of Alibaba securities purchasers in California Superior Court, San Mateo County settled through a stipulation of settlement on December 28, 2018?

Yes, this is a separate class action.  If you wish to be eligible to receive a portion of this settlement, please file a claim form online or visit the Important Documents page to print the claim form.

If I filed a claim in the class action in the California Superior Court, San Mateo County, can I file a claim in this case?

Yes, you are eligible to file a claim form in this case too.

If I submitted a claim form in the other action do I need to submit a claim form in this matter?

Yes, this is a separate class action.  If you wish to be eligible to receive a portion of this settlement, please file a claim form online or visit the Important Documents page to print the claim form.