Levi & Korsinsky, LLP announces that an IQ class action lawsuit has been filed on behalf of investors who purchased iQIYI, Inc. (IQ) securities between March 22, 2021, and March 29, 2021. For more on the IQ Lawsuit please contact us today.
According to the iQIYI lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: Goldman Sachs Group Inc. and Morgan Stanley sold a large number of iQIYI shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in iQIYI based on margin call pressures. The defendants avoided billions in losses by selling the Company’s shares while in possession of this information. When the market learned the truth about iQIYI investors suffered damages.
If you suffered a loss in iQIYI you have until January 31, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171