iQIYI, Inc. 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: (a) iQIYI American Depository Shares pursuant and/or traceable to the Company’s initial public offering conducted on or about March 29, 2018; or (b) iQIYI securities between March 29, 2018, and April 7, 2020.
According to the iQIYI lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) iQIYI inflated its revenue figures; (2) iQIYI inflated its user numbers; (3) iQIYI inflated its expenses to cover up other fraud; and (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
If you suffered a loss in iQIYI you have until June 15, 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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