Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Baidu, Inc. (NASDAQ: BIDU) securities.
If you suffered a loss on your Baidu, Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 16 2019 - Apr 07 2020
CASE DETAILS:
(i) Baidu’s feed services were not in compliance with applicable Chinese regulatory standards; (ii) the foregoing noncompliance subjected the Company to a heightened risk of regulatory enforcement, including the removal or suspension of certain of Baidu’s services and products; (iii) accordingly, the Company’s revenues derived from online marketing services were unlikely to be sustainable; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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