Why my following comment was deleted again?
It did NOT violate any rules of this website. My message is certainly much more factual than most of the emotional comments.
If you delete my message again, I will protest to all the advertisers that this site suppresses freedom of speech.
This class action law suit is nothing new. It happens all the time in the US. There are some law firms specialized in stock related litigations. They look for possible cases everyday. This type of class action law suit (集體訴訟) takes years to prove. Sometimes they just settle it. In most of this kind of class action law suit cases, the law firms don't have much chance to win, they just want to squeeze some $ from the companies. Also they will not get any money, not even legal fees, if they lose the case. The law firm usually want 30%+ as legal fees if they win. So share holders usually divide about 60% of whatever the final settlement. For shareholders, it almost always means they get 1-4 pennies for every $ they lost. So it usually does not help shareholders. It is just an opportunity for law firms find ways to make money.
Based on all the information that we can see, this class action will likely get thrown out of court. I don't think BABA has a big risk of losing.
So get ready to buy some BABA shares if it pulls back more
