Lawsuit filed for Investors in shares of Baidu, Inc. (NASDAQ: BIDU)

An investor, who purchased shares of Baidu, Inc. (NASDAQ: BIDU), filed a lawsuit in the U.S. alleged violations of Federal Securities Laws by Baidu, Inc..

Investors who purchased shares of Baidu, Inc. (NASDAQ: BIDU) have certain options and for certain investors are short and strict deadlines running. Deadline: October 19, 2020. NASDAQ: BIDU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 13, 2020, after the market closed, iQIYI announced that the U.S. Securities & Exchange Commission sought "the production of certain financial and operating records dating from January 1, 2018, as well as documents related to certain acquisitions and investments that were identified in a report issued by short-seller firm Wolfpack Research in April 2020." Baidu, Inc founded iQIYI in 2010 and currently owns a 56% controlling interest in iQIYI.

Shares of Baidu, Inc. (NASDAQ: BIDU) declined from $128.25 per share on August 12, 2020 to $115.59 per share on August 14, 2020.

The plaintiff claims that between April 8, 2016 and August 13, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Baidu misrepresented the financial and business condition of iQIYI, that iQIYI had inadequate controls, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of Baidu, Inc. (NASDAQ: BIDU) 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.

This release was published on openPR.