Alibaba (BABA) Falls as 'High-Up' Executive Said to Help SEC with Accounting Probe
Shares of Alibaba (NYSE: BABA) are down 2% in pre-open trade Tuesday following reports from the New York Post that a 'high-up' staffer is helping the SEC in its accounting probe.
The SEC is working with more than one whistleblower related the accounting probe, first disclosed in May. One was identified as a "high-up" official "who helped initiation the investigation."