The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Baidu, Inc. (NASDAQ: BIDU) securities between April 8, 2016 and August 13, 2020.
According to the Baidu lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Baidu misrepresented the financial and business condition of iQIYI; (2) iQIYI had inadequate controls; and (3) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
If you suffered a loss in Baidu you have until October 19, 2020 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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