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Investigation announced for Long-Term Investors in shares of iQIYI, Inc. (NASDAQ: IQ)

08-08-2020 01:13 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in iQIYI, Inc. (NASDAQ: IQ) shares.

An investigation on behalf of current long term investors in iQIYI, Inc. (NASDAQ: IQ) shares.

An investigation was announced for investors in shares of iQIYI, Inc. (NASDAQ: IQ) concerning potential breaches of fiduciary duties by certain directors and officers of iQIYI, Inc..

Investors who are current long term investors in iQIYI, Inc. (NASDAQ: IQ) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: IQ stocks follows a lawsuit filed against iQIYI, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: IQ stocks, concerns whether certain iQIYI, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 29, 2018 and April 7, 2020, the defendants made false and/or misleading statements and/or failed to disclose that iQIYI inflated its revenue figures, that iQIYI inflated its user numbers, that iQIYI inflated its expenses to cover up other fraud, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. According to the suit, these true details were disclosed by a market research firm.

Those who purchased shares of iQIYI, Inc. (NASDAQ: IQ) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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