NEW YORK–(BUSINESS WIRE)–Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley (“Morgan Stanley”) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired iQIYI, Inc. (“iQIYI” or the “Company”) (NASDAQ: IQ) American Depository Shares (ADS) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/iq.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The complaint alleges that throughout the Class Period, Defendants traded while in possession of material non-public information and about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. While in possession of material, non-public adverse information, Defendants collectively sold billions of dollars’ worth of Company shares. Later, when the information became publicly known, the price of the Company’s common stock declined sharply as a result of such disclosure.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/iq or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.