WELLINGTON, Fla., May 7, 2020 /PRNewswire/ -- Barbuto &
Johansson, P.A. reminds investors that they have until June 22, 2020 to contact the Firm to learn more
about the class action lawsuit filed against Baidu, Inc.
(NASDAQGS:BIDU) and appointment and qualifications to be considered
for the role of lead plaintiff. Investors with dlosses
exceeding $350,000 are encouraged to
contact the Firm.
According to the lawsuit, during the Class Period of
March 16, 2019 and April 7, 2020, Baidu materially misled the
investing public regarding its business, operational and compliance
policies. It is alleged, in part, that during the Class
Period, Baidu failed to disclose that its newsfeed services were
not in compliance with applicable Chinese regulatory standards and
said noncompliance subjected Baidu to a heightened risk of
regulatory enforcement. On April 7,
2020, post-market, China's
Internet regulator stated that Baidu's content review on some of
its newsfeed channels violated Chinese laws. On this news,
Baidu's share price fell more than 4%.
Only two days later, Baidu announced that it had suspended
updating its content on certain newsfeed channels to conduct
maintenance, and that it expected the suspension to have an "impact
on the marketing services revenue related to the suspended
If you've suffered damages from investing in Baidu and would
like to discuss your options including petitioning the court for a
leadership position, you may, without obligation or cost to you,
contact Anthony Barbuto, at (888)
715-2520 or via email at email@example.com.
The Firm follows the principles set forth in the
case Berger v. Compaq, 257 F.3d 475 (5th Cir. 2001)
which states "[c]lass action lawsuits are intended to serve as a
vehicle for capable, committed advocates to pursue the goals of the
class members through counsel, not for capable, committed counsel
to pursue their own goals through the class members." The Firm
believes strongly that the choice of qualified lead plaintiff(s)
can have a significant impact on the successful outcome of a
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
12773 W. Forest Hill Blvd., 101
Wellington, FL 33414
SOURCE Barbuto & Johansson, P.A.