WELLINGTON, Fla., June 09, 2020 (GLOBE NEWSWIRE) -- The Law Firm of Barbuto & Johansson, P.A. and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action Experience, including cases against ENRON and Halliburton) informs investors that a class action lawsuit has been filed on behalf of purchasers of securities of iQIYI, Inc. (NASDAQGS: IQ) between March 29, 2018 and April 7, 2020 (the “Class Period”). Purchasers of IQ securities during the Class Period are encouraged to contact the Firm to discuss the case and their position in the class, no later than June 15, 2020 – the day petitions to serve as lead plaintiff are due.
According to the lawsuit, during the Class Period, iQIYI materially misled the investing public regarding its business and operations. It is alleged, in part, that during the Class Period, iQIYI failed to disclose that the Company inflated its revenue figures and user numbers, and inflated its expenses to cover up a fraud. On April 7, 2020, 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.
PLEASE NOTE: BARBUTO & JOHANSSON, P.A. RECOMMENDS THAT SHAREHOLDERS WITH LOSSES EXCEEDING $100,000 CONTACT THE FIRM TODAY. Applications for Lead Plaintiff are due on June 15, 2020.
If you purchased shares in iQIYI, Inc. within the period set forth above, you may, at no obligation or cost, contact the Firm’s Managing Partner, Anthony Barbuto, at (888) 715-2520 or via email at firstname.lastname@example.org; or Neil Rothstein by email at email@example.com. Shareholders can also fill out the online form on the Firm’s website. An attorney will contact you to discuss this case, your options as a class member or any questions you have about this process.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
12773 Forest Hill Blvd., 101
Wellington, FL 33414