LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Baidu Inc. (“Baidu” or the “Company”) (NASDAQ: BIDU) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On April 7, 2020, China’s internet regulator, the Cyberspace Administration of China (“CAC”), announced that Baidu failed to implement “strict” content review on its news feed channels. The CAC further stated that Baidu “exerted bad influence to the society,” and violated relevant Chinese laws and regulations. The Company responded that it would be suspending certain operations in an effort to comply with the CAC.
On this news, the Company’s share price fell $4.59, or over 4%, to close at $97.33 per share on April 8, 2020, thereby injuring investors.
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If you purchased Baidu securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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