The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Baidu Inc. Investors (BIDU)
April 23 2020 - 7:37PM
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.
If you are a shareholder who suffered a loss, click here to
participate.
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.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
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
info@frankcruzlaw.com, 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.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200423005975/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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