Baidu Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Baidu, Inc. ( Goldman Sachs Group Inc.) (NASDAQ: BIDU) securities between March 22, 2021 and March 29, 2021.
According to the Baidu lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: According to the filed complaint: Goldman Sachs Group Inc. and Morgan Stanley sold a large number of Baidu shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in Baidu based on margin call pressures. The defendants avoided billions in losses by selling the Company’s shares while in possession of this information. When the market learned the truth about Baidu, investors suffered damages.
If you suffered a loss in Baidu you have until February 14, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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