We just noted this below post at a expat forum in Beijing China by an expat we suspect to be a Yahoo shareholder...
Upon doing a little research, the statement appears to be correct and the IPO should be cancelled immediately.
" Alibaba does not qualify for an IPO due to past regulatory issues and hundreds of pending law suits.
Either NASDAQ officials were bribed or people are brain dead with very short memories. U.S. Securities laws do not allow companies involved in law suits to go public and over 300 lawsuits were filed and still pending against Alibaba and Yahoo for the Ali-Pay fraud that Jack Ma pulled on Yahoo two years ago - causing Yaho shareholders a huge loss of dividends and deprived Yahoo of over $300 million of annual revenues. How the hell does a company this unethical and devious deserve to even trade on NASDAQ, much less get an IPO?
Only insiders will profit from the IPO after they dump their IPO shares in a few weeks and then American investors will get stuck holding shares they cannot afford to sell for years."
Forget the hype and deal with the reality of Alibaba and Jack Ma's past history of "bait and switch" and history of deceptions. Investors must look beyond their short-term greed as they will be feeding a monster that eats American companies for breakfast and will go after companies like EBAY, Amazon, and then outsource all the jobs to China. Within a year CISCO could be a target and American technology IP, or what is left of it, will be an endangered species. See these links...