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Chinese Stock Update by the Law Firm of Barbuto & Johansson, P.A. – Senate Passes Bill That Could Delist Chinese Companies From US Exchanges

Lead Plaintiff Deadline Reminder for IQ / GSX / BIDU

WELLINGTON, Fla., May 21, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience, including cases against ENRON and HALLIBURTON) advises investors that the U.S. Senate voted yesterday to approve sweeping new legislation that could ultimately bar many Chinese companies from listing shares on U.S. exchanges.  The Bill would require Chinese companies to adhere to stricter reporting guidelines.

This morning, according to a Reuters report, Chinese stock, Baidu, Inc. (BIDU) is considering delisting from the Nasdaq amid tension between the U.S. and China over investments.  The Senate Bill also came just a month or so after several Chinese companies were sued by a class of shareholders for violations of federal securities laws, including but not limited to Baidu, Inc., and Chinese online education company, GSX Techedu, Inc. (GSX), and Chinese online video platform, iQIYI, Inc. (IQ).

The class actions against GSX, IQ and BIDU are currently pending with lead plaintiff deadlines approaching as follows:

iQIYI, Inc. (IQ)
Class Period: 3/29/2018 - 4/7/2020
Lead Plaintiff Motion Deadline: June 15, 2020
FOR FURTHER DETAILS ABOUT THIS CASE:  https://finance.yahoo.com/news/class-action-filing-deadline-barbuto-043553791.html

GSX Techedu Inc. (GSX)
Period: Investors who purchased shares after June 6, 2019
Lead Plaintiff Motion Deadline: June 16, 2020
FOR FURTHER DETAILS ABOUT THIS CASE:  https://finance.yahoo.com/news/barbuto-johansson-p-gsx-techedu-150045194.html

Baidu, Inc. (BIDU)
Class Period: 3/16/2019 - 4/7/2020
Lead Plaintiff Motion Deadline: June 22, 2020
FOR FURTHER DETAILS ABOUT THIS CASE:  https://finance.yahoo.com/news/baidu-litigation-barbuto-johansson-p-180352475.html

If you purchased shares of IQ, GSX or BIDU in the periods listed above, you may, without obligation or cost, contact Anthony Barbuto at (888) 715-2520 or via email at anthony@barjolaw.com; or Neil Rothstein via email at neil@barjolaw.comShareholders with Substantial Losses are Encouraged to Contact the Firm. 

BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir, 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.”

Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
12773 Forest Hill Blvd., 101
Wellington, FL 33414