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BIDU SHAREHOLDER UPDATE: Bronstein, Gewirtz & Grossman, LLC Notifies Investors with Losses Exceeding $100,000 of Class Action Against Baidu, Inc. and Encourages Investors to Contact the Firm

Newsfile Corp.

New York, New York--(Newsfile Corp. - June 18, 2020) - Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Baidu, Inc. (NASDAQ: BIDU) ("Baidu" or "the Company") and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Baidu securities between March 16, 2019 through April 7, 2020 , both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/bidu.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Baidu's feed services were not in compliance with applicable Chinese regulatory standards; (2) the foregoing noncompliance subjected the Company to a heightened risk of regulatory enforcement, including the removal or suspension of certain of Baidu's services and products; (3) accordingly, the Company's revenues derived from online marketing services were unlikely to be sustainable; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/bidu or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Baidu you have until June 22, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58163