Press release
Deadline on Feb. 14th coming up in Lawsuit for Investors in Baidu, Inc. (NASDAQ: BIDU)
A Deadline is coming up on February 14, 2022 in the lawsuit for certain investors in Baidu, Inc. (NASDAQ: BIDU).
Investors who purchased shares of Baidu, Inc. (NASDAQ: BIDU) have certain options and there are strict and short deadlines running. Deadline: February 14, 2022. NASDAQ: BIDU stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
China based Baidu, Inc. provides Internet search services in China and internationally. Baidu, Inc reported that its annual Total Revenue rose from over 102.27 billion CNY in 2018 to 107.41 billion CNY in 2019, and that its Net Income declined from 27.57 billion CNY in 2018 to 1.98 billion CNY in 2019.
Both Goldman Sachs and Morgan Stanley are global financial services institutions that served as prime brokers for Archegos Capital Management (“Archegos”), a family office with $10 billion under management, helping Archegos make trades and lending it capital in the form of margin lending.
According to the complaint the plaintiff alleges on behalf of purchasers of Baidu, Inc. (NASDAQ: BIDU) common shares between March 22, 2021 and March 29, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 22, 2021 and March 29, 2021, Goldman Sachs and Morgan Stanley sold a large amount of Baidu shares while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure and that as a result of these sales, the Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
Those who purchased shares of Baidu, Inc. (NASDAQ: BIDU) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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