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) -- 04/28/2022 -- Certain directors of iQIYI, Inc. are under investigation 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 mail@shareholdersfoundation.com 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.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that, the Goldman Sachs and Morgan Stanley sold a large amount of IQIYI shares between March 22, 2021 and March 29, 2021while 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. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
Shares of iQIYI, Inc. (NASDAQ: IQ) declined from $28.97 per share on March 23, 2021, to as low as $12.41 per share on May 13, 2021.
Those who purchased shares of iQIYI, Inc. (NASDAQ: IQ) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
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.