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CLASS ACTION UPDATE for BIDU, PROG and UPLCQ: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

·4 mins read

NEW YORK, NY / ACCESSWIRE / September 13, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

BIDU Shareholders Click Here: https://www.zlk.com/pslra-1/baidu-inc-information-request-form-2?prid=9224&wire=1
PROG Shareholders Click Here: https://www.zlk.com/pslra-1/progenity-inc-information-request-form?prid=9224&wire=1
UPLCQ Shareholders Click Here: https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=9224&wire=1

* ADDITIONAL INFORMATION BELOW *

Baidu, Inc. (NASDAQ:BIDU)

BIDU Lawsuit on behalf of: investors who purchased April 8, 2016 - August 13, 2020
Lead Plaintiff Deadline : October 19, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/baidu-inc-information-request-form-2?prid=9224&wire=1

According to the filed complaint, during the class period, Baidu, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Baidu misrepresented the financial and business condition of iQIYI; (2) iQIYI had inadequate controls; and (3) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Progenity, Inc. (NASDAQ:PROG)

This lawsuit is on behalf of all purchasers of Progenity common stock pursuant and/or traceable to the registration statement, as amended, issued in connection with Progenity's June 2020 initial public offering.
Lead Plaintiff Deadline : October 27, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/progenity-inc-information-request-form?prid=9224&wire=1

According to the filed complaint, (i) that Progenity had overbilled government payors by $10.3 million in 2019 and early 2020 and, thus, had materially overstated its revenues, earnings and cash flows from operations for the historical financial periods provided in the registration statement; (ii) that Progenity would need to refund this overpayment in the second quarter of 2020 (the same quarter in which the initial public offering was conducted), adversely impacting its quarterly results; and (iii) that Progenity was suffering from accelerating negative trends in the second quarter of 2020 with respect to the Company's testing volumes, revenues and product pricing.

Ultra Petroleum Corp. (OTC PINK:UPLCQ)

UPLCQ Lawsuit on behalf of: investors who purchased April 3, 2017 - August 8, 2019
Lead Plaintiff Deadline : November 2, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=9224&wire=1

According to the filed complaint, during the class period, Ultra Petroleum Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) Ultra's proved reserves were materially overstated and, therefore, worth hundreds of millions of dollars less than represented; (b) Ultra's proved undeveloped reserves were of de minimis value because they contained low quality deposits that lacked a commercially viable path to development; (c) Ultra was unable to meet the production and development estimates provided to investors and such estimates lacked a reasonable basis; (d) Ultra was unable to withstand even a modest downturn in the price of natural gas because, inter alia, Ultra's business had less financial and production flexibility than claimed; and (e) Ultra did not have the technical or financial capabilities or available asset base to sustainably grow its oil and natural gas production by any meaningful amount.

You have until the lead plaintiff deadlines 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.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/605880/CLASS-ACTION-UPDATE-for-BIDU-PROG-and-UPLCQ-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders