San Diego, CA -- (SBWIRE) -- 01/18/2022 -- An investor, who purchased shares of Baidu, Inc. (NASDAQ: BIDU), filed a lawsuit against Goldman Sachs Group Inc. ("Goldman Sachs") and Morgan Stanley ("Morgan Stanley") over alleged Securities Laws violations.

Investors who purchased shares of Baidu, Inc. (NASDAQ: BIDU) have certain options and for certain investors are short and strict deadlines running. Deadline: February 14, 2022. NASDAQ: BIDU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

China based Baidu, Inc. provides Internet search services in China and internationally. Baidu, Inc reported that its annual Total Revenue rose from over 102.27 billion CNY in 2018 to 107.41 billion CNY in 2019, and that its Net Income declined from 27.57 billion CNY in 2018 to 1.98 billion CNY in 2019.

Both Goldman Sachs and Morgan Stanley are global financial services institutions that served as prime brokers for Archegos Capital Management ("Archegos"), a family office with $10 billion under management, helping Archegos make trades and lending it capital in the form of margin lending.

According to the complaint the plaintiff alleges on behalf of purchasers of Baidu, Inc. (NASDAQ: BIDU) common shares between March 22, 2021 and March 29, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 22, 2021 and March 29, 2021, Goldman Sachs and Morgan Stanley sold a large amount of Baidu shares while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure and that as a result of these sales, the Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.

Those who purchased shares of Baidu, Inc. (NASDAQ: BIDU) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.