The Law Offices of Howard G. Smith is investigating Alibaba Group Holding Ltd. for possible federal securities law violations. The firm seeks to recover losses for affected investors.
On February 13, 2026, the Pentagon added Alibaba to a list of companies allegedly aiding the Chinese military. The Pentagon retracted the list minutes later. Alibaba shares fell nearly 4% during intraday trading.
The probe also cites a November 2025 Financial Times report containing similar allegations. This report previously caused a significant drop in Alibaba's share price.