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ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Announces Investigation of Securities Claims Against Baidu, Inc. - BIDU

NEW YORK, Aug. 18, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Baidu, Inc. (NASDAQ: BIDU) resulting from allegations that Baidu may have issued materially misleading business information to the investing public.

Rosen Law Firm, P.A. Logo
Rosen Law Firm, P.A. Logo

In 2010, Baidu founded iQIYI. Currently, Baidu owns approximately a 56% controlling interest in iQIYI.

On August 13, 2020, after the market closed, iQIYI announced that the U.S. Securities & Exchange Commission sought "the production of certain financial and operating records dating from January 1, 2018, as well as documents related to certain acquisitions and investments that were identified in a report issued by short-seller firm Wolfpack Research in April 2020."

On this news, Baidu's American depositary share ("ADS") price fell $7.83 per ADS, or 6%, to close at $116.74 per ADS on August 14, 2020, damaging investors.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Baidu's investors. If you purchased ADSs of Baidu, please visit the firm's website at http://www.rosenlegal.com/cases-register-1925.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com 
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

 

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SOURCE Rosen Law Firm, P.A.