An investigation on behalf of current long term investors in iQIYI, Inc. (NASDAQ:IQ) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/14/2020 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors of iQIYI, Inc..
Investors who are current long term investors in iQIYI, Inc. (NASDAQ: IQ) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: IQ stocks follows a lawsuit filed against iQIYI, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: IQ stocks, concerns whether certain iQIYI, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 29, 2018 and April 7, 2020, the defendants made false and/or misleading statements and/or failed to disclose that iQIYI inflated its revenue figures, that iQIYI inflated its user numbers, that iQIYI inflated its expenses to cover up other fraud, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. According to the suit, these true details were disclosed by a market research firm.
Those who purchased shares of iQIYI, Inc. (NASDAQ: IQ) have certain options and should contact the Shareholders Foundation.
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