NEW YORK, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against iQIYI, Inc. (NASDAQ: IQ) on behalf of iQIYI stockholders. Our investigation concerns whether iQIYI has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 13, 2020, iQIYI issued a press release announcing the Company’s financial results for the second quarter of 2020. Among other results, iQIYI disclosed that the Securities and Exchange Commission's Division of Enforcement “is seeking 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, iQIYI's American depositary receipt (“ADR”) price fell $2.42 per ADR, or 11.16%, to close at $19.26 per ADR on August 14, 2020.
If you purchased or otherwise acquired iQIYI shares and suffered a loss, have information, 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 Melissa Fortunato or Marion Passmore by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
