New York, New York--(Newsfile Corp. - May 22, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of iQIYI, Inc. (NASDAQ: IQ) alleging that the Company violated federal securities laws.
The IQ lawsuit is on behalf of persons and entities other than Defendants that purchased or otherwise acquired: (a) iQIYI American Depository Shares pursuant and/or traceable to the Company's initial public offering conducted on or about March 29, 2018; or (b) iQIYI securities between March 29, 2018, and April 7, 2020.
Lead Plaintiff Deadline: June 15, 2020
Learn more about your recoverable losses in DNK:
The filed complaint alleges that iQIYI, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) iQIYI inflated its revenue figures; (2) iQIYI inflated its user numbers; (3) iQIYI inflated its expenses to cover up other fraud; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times.
Shareholders have until June 15, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the IQ lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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