NEW YORK, Jan. 24, 2022 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of iQIYI, Inc. ("iQIYI" or the "Company") (NASDAQ: IQ) between March 22, 2021 and March 29, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
iQIYI, Inc. NEWS - IQ NEWS
CASE DETAILS: According to the filed complaint: 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.
WHAT THIS MEANS TO SHAREHOLDERS: 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.
NO COST TO YOU: If you purchased iQIYI securities between March 22, 2021 and March 29, 2021, you may be entitled to compensation without payment of any out-of-pocket costs or fees.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form:
or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by corporations.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington, D.C. The Firm's Founding Partners, Joseph Levi and Eduard Korsinsky, have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 70 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services' ("ISS") SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs' securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.
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