LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Baidu, Inc. (“Baidu” or “the Company”) (NASDAQ: BIDU) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. China's internet regulator, the Cyberspace Administration of China (“CAC”), announced on April 7, 2020, that Baidu failed to exercise “strict” content review on its news feed channels. The CAC added that the Company “exerted bad influence to the society,” and violated relevant Chinese laws and regulations. Baidu responded that it would suspend certain operations in an effort to comply with the CAC. Based on this news, shares of Baidu fell by more than 4% on the next day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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