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NEW ORLEANS, June 21, 2020 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until June 22, 2020 to file lead plaintiff applications in a securities class action lawsuit against Baidu, Inc. (NasdaqGS: BIDU), if they purchased the Company’s securities between March 16, 2019, and April 7, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Baidu and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-bidu/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by June 22, 2020.
About the Lawsuit
Baidu and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 7, 2020, post-market, the Company was ordered by the Cyberspace Administration of China (“CAC”), China’s internet regulator, remove improper information and “low-brow content” from its internet search engine, that the content review on some of its news feed channels was not “strict,” “exerted bad influence to the society,” and violated relevant Chinese laws and regulations.
On this news, the price of Baidu’s shares fell, damaging shareholders.
The case is Ikeda v. Baidu, Inc., et al., 20-cv-02768.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC