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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Baidu Inc. Investors With Losses to Secure Counsel Before Important February 14 Deadline in Securities Class Action – BIDU

January 2, 2022 GMT

NEW YORK--(BUSINESS WIRE)--Jan 2, 2022--

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Baidu Inc. (NASDAQ: BIDU) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”), of the important February 14, 2022lead plaintiff deadline.

SO WHAT: If you purchased Baidu securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Baidu class action, go to http://www.rosenlegal.com/cases-register-2228.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 14, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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DETAILS OF THE CASE: According to the complaint, Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley sold a large number of Baidu shares during the Class Period while in possession of material, non-public information. Defendants Goldman Sachs and Morgan Stanley knew that Archegos Capital Management, a family office with $10 billion under management, would need to fully liquidate its position in Baidu because of margin call pressure. As a result of these sales, Goldman Sachs and Morgan Stanley avoided billions in losses combined and the price of Baidu’s stock declined sharply, damaging investors.

To join the Baidu class action, go to http://www.rosenlegal.com/cases-register-2228.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20220102005011/en/

CONTACT: Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com

pkim@rosenlegal.com

cases@rosenlegal.com

www.rosenlegal.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Rosen Law Firm, P.A.

Copyright Business Wire 2021.

PUB: 01/02/2022 12:24 PM/DISC: 01/02/2022 12:24 PM

http://www.businesswire.com/news/home/20220102005011/en