Wall Street Investors List Jack Ma As The Target Of Prosecution

On April 22, local time, four Wall Street investors listed the founder of Alibaba, Jack Ma, as a new target of prosecution. The four investors had filed a class-action lawsuit against Alibaba in the U.S. federal court last year, citing a plunge in Ali’s stock price, which caused damage to investment interests. Even though the content of the charges did not change significantly, the inclusion of Jack Ma as the subject of the lawsuit is a first. It is reported that the investors’ lawyers are convening all investors who purchased Alibaba shares from June to December 2020 to jointly initiate a class-action lawsuit demanding compensation for the losses from Alibaba and Jack Ma.

According to the latest market value, Alibaba’s stock has fallen by more than 70% since December 2020. If the lawsuit wins, the amount of compensation could reach a record amount of hundreds of billions of RMB. Miles Guo earlier broke the news that Jack Ma was arrested by the CCP and escorted to Spain to deal with his assets. This information was not disclosed to the U.S. government or the stock market, which involved concealing a significant event from the listed company. If the charges are true, Jack Ma has already committed a criminal offense.