WELLINGTON, Fla., June 20, 2020 /PRNewswire/ -- Barbuto &
Johansson, P.A. ("BARJO" or the "Firm") and Of Counsel,
Neil Rothstein, Esq. (with over 30
years of Securities Class Action experience, including cases
against ENRON and HALLIBURTON) remind investors that they have
until June 22, 2020 to contact
the Firm to learn more about the class action filed against BAIDU,
INC. (NasdaqGS: BIDU), and application for appointment of Lead
Plaintiff.
The lawsuit, ROGER A.
IKEDA v. BAIDU, INC., et al., Case No.:
5:20-cv-02768, was filed in the US District Court for the Northern
District of California on behalf
of shareholders alleging violations of federal securities laws.
According to the lawsuit, during the Class Period of March 16, 2019 and April
7, 2020, inclusive, Baidu materially misled the investing
public regarding its business, operational and compliance policies.
Specifically, 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 relevant Chinese laws and regulations. On this news,
Baidu's share price fell more than 4%, damaging
investors. Only two days later, on April 9, 2020, 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
channels."
If you purchased shares of BIDU during the Class Period of
March 16, 2019 and April 7, 2020, inclusive, and would like to
discuss your options, including petitioning the court for a
leadership position, you may, without obligation or cost, contact
attorney Anthony Barbuto, at (888)
715-2520 or via email at anthony@barjolaw.com; or Neil Rothstein via email at
neil@barjolaw.com. Shareholders who have suffered losses
exceeding $250,000 are encouraged to
contact the Firm. BARJO believes strongly that the choice
of a qualified lead plaintiff can have a significant impact on the
successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
www.barjolaw.com
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SOURCE Barbuto & Johansson, P.A.