NEW YORK–(BUSINESS WIRE)–#BIDU–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Baidu, Inc. (NASDAQ: BIDU) on behalf of Baidu stockholders. Our investigation concerns whether Baidu has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 13, 2020, iQIYI, Inc. 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 founded iQIYI in 2010 and currently owns a 56% controlling interest in iQIYI.
On this news, the Company’s shares fell as much as $8.51, or nearly 7%, on August 14, 2020.
If you purchased or otherwise acquired Baidu shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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