NASDAQ: IQ

iQIYI, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of iQIYI, Inc. (NASDAQ: IQ) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 31, 2022.

If you purchased iQIYI securities between March 22, 2021 and March 29, 2021 and would like to join the action, please click “Join This Class Action.”

Class Period:March 22, 2021 through March 29, 2021
If you purchased iQIYI securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, Goldman Sachs Group Inc. and Morgan Stanley sold a large amount of iQIYI American Depository Receipts (ADRs) during the Class Period while in possession of material non-public information about Archegos Capital Management (at the time a family office with $10 billion under management) and its need to fully liquidate its position in iQIYI because of margin call pressure. As a result of these sales, the defendants in the case, Goldman Sachs and Morgan Stanley, avoided billions in losses combined.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: iQIYI, Inc.
Stock Symbol: IQ
Class Period: March 22, 2021 through March 29, 2021
Court: United States District Court for the Southern District of New York

Why Rosen Law

The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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