Boston, Massachusetts–(Newsfile Corp. – April 16, 2020) – Thornton Law Firm LLP alerts investors that a securities class action has been filed on behalf of investors of IQIYI INC (NASDAQ: IQ). The lawsuit alleges violations of the federal securities laws and alleges that IQ misled the investing public. Investors who purchased iQIYI securities are encouraged to submit their information at https://www.tenlaw.com/cases/IQ. Investors may also contact Thornton Law Firm at [email protected], or call 617-531-3917. Investors outside the USA, including derivative investors, are particularly encouraged to contact Thornton Law Firm to discuss their potential recovery rights.
FOR MORE INFORMATION, VISIT: https://www.tenlaw.com/cases/IQ
The lawsuit alleges that iQIYI failed to disclose that it was inflating its revenue figures, user numbers, and expenses to cover up fraud. According to the suit, these true details were disclosed by a market research firm. IQ stock dropped nearly 5% on April 14, 2020 on extraordinary volume and continues to trade down, causing substantial losses for IQ investors.
If you are an investor that suffered losses in IQ, please contact the Thornton Law Firm’s shareholder rights team at http://www.tenlaw.com/cases/IQ, by email at [email protected], or calling 617-531-3917.
FOR MORE INFORMATION: https://www.tenlaw.com/cases/IQ
Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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