NEW YORK, NY / ACCESSWIRE / August 19, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of iQIYI, Inc. ("iQIYI" or the "Company") (NASDAQ:IQ). Investors who purchased iQIYI securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/iq.
The investigation concerns whether iQIYI and certain of its officers and/or directors have violated federal securities laws.
On August 13, 2020, iQIYI issued a press release announcing the Company's financial results for the second quarter of 2020. Among other results, iQIYI disclosed that the Securities and Exchange Commission's Division of Enforcement "is seeking the production of certain financial and operating records dating from January 1, 2018, as well as documents related to certain acquisitions and investments that were identified in a report issued by short-seller firm Wolfpack Research in April 2020." On this news, iQIYI's American depositary receipt ("ADR") price fell $2.42 per ADR, or 11.16%, to close at $19.26 per ADR on August 14, 2020.
If you are aware of any facts relating to this investigation, or purchased iQIYI shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/iq. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC