Baidu, Inc. Loss Submission Form

Company: Baidu Inc. ( Goldman Sachs Group Inc.)

Deadline

Passed

Lead Plaintiff Deadline: February 14, 2022

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Allegations

According to the filed complaint: Goldman Sachs Group Inc. and Morgan Stanley sold a large number of Baidu shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in Baidu based on margin call pressures. The defendants avoided billions in losses by selling the Company’s shares while in possession of this information. When the market learned the truth about Baidu, investors suffered damages.