Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Baidu, Inc.    BIDU


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

BIDU SHAREHOLDER DEADLINE: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Baidu Inc.

share with twitter share with LinkedIn share with facebook
09/18/2020 | 02:02pm EDT

NEW YORK, Sept. 18, 2020 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action that has been filed on behalf of investors that purchased or acquired the securities of Baidu Inc. ("Baidu" or the "Company") (NASDAQ: BIDU) between April 8, 2016 and August 13, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.

If you purchased Baidu securities, and/or would like to discuss your legal rights and options please visit Baidu Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) Baidu misrepresented the financial and business condition of iQIYI; (ii) iQIYI had inadequate controls; and (iii) as a result, Defendants public statements were materially false and/or misleading at all relevant times.

On April 7, 2020, during market hours, Wolfpack Research released a report detailing, among other things, how iQIYI had misled investors and failed to disclose pertinent information generally and in its Registration Statement, including: (i) iQIYI overstating its user numbers; (ii) iQIYI inflating its revenues; (iii) iQIYI inflating expenses and prices of assets to conceal its revenue inflation; and (iv) iQIYI misleading financial reporting creating the appearance of a cash generative company.

On this news, Baidu's ADSs fell $4.46 per ADS, or 4% to close at $97.33 per ADS on the next full trading day, April 8, 2020, damaging investors.

On August 13, 2020 after trading hours, iQIYI issued a press release entitled "iQIYI announces Second Quarter 2020 Financial Results" which announced that the SEC's Division of Enforcement was "seeking the production of certain financial and operational 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."

On this news, Baidu's ADSs fell $7.83 per ADS, or 6% to close at $116.74 per ADS on August 14, 2020 damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than October 19, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Baidu securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/baiduinc-bidu-shareholder-class-action-lawsuit-stock-fraud-291/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Matthew E. Guarnero
Bernstein Liebhard LLP
(877) 779-1414


View original content to download multimedia:http://www.prnewswire.com/news-releases/bidu-shareholder-deadline-bernstein-liebhard-llp-reminds-investors-of-the-deadline-to-file-a-lead-plaintiff-motion-in-a-securities-class-action-lawsuit-against-baidu-inc-301133753.html

SOURCE Bernstein Liebhard LLP

© PRNewswire 2020

share with twitter share with LinkedIn share with facebook
All news about BAIDU, INC.
10/18FINAL DEADLINE : Rosen, Global Investor Counsel, Reminds Baidu, Inc. Investors o..
10/17SHAREHOLDER ALERT : Pomerantz Law Firm Reminds Shareholders with Losses on their..
10/15BIDU SHAREHOLDER DEADLINE : Bernstein Liebhard LLP Reminds Investors of the Dead..
10/14Baidu Up Over 8%, On Pace for Largest Percent Increase Since January -- Data ..
10/05BAIDU : iQIYI says internal review finds no proof to support short-seller claims
09/30BAIDU : ROSEN, LEADING TRIAL ATTORNEYS, Reminds Baidu, Inc. Investors of the Imp..
09/30BAIDU : Backed Tutoring Startup Seeks New Funding at $10 Billion Valuation, Reut..
09/30BAIDU : Enters into Definitive Agreements to Raise Financing for its Smart Livin..
More news