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Stock impact report

IQIYI INC (IQ) DROPS ON WOLFPACK REPORT: Labaton Sucharow Announces New Investigation of iQiyi and Strongly Encourages Investors with Losses to Contact the Firm

iQIYI, Inc. - American Depositary Shares (IQ) 
Last iqiyi, inc. - american depositary shares earnings: 2/27 04:30 pm Check Earnings Report
Company Research Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Labaton Sucharow LLP, a nationally ranked and award winning investor rights law firm, announces it is developing a proprietary investigation concerning potential securities claims on behalf of shareholders of IQIYI INC (Ticker: IQ) resulting from allegations that IQ may have issued materially misleading business information to the investing public.IQ, which is majority owned by Chinese search giant Baidu, is a video streaming platform considered to be the “Netflix of China.”Wolfpack Research, which describes itself as an “activist research and due-diligence firm”, released a report on Tuesday, alleging that iQiyi “was committing fraud well before its IPO (initial public offering) in 2018 and has continued to do so ever since.”Wolfpack surveyed 1563 iQiyi users within IQ’s target demographic in China during October and November 2019 and found that approximately 31.9% of IQ users have access to its VIP-only content through their memberships with IQ’s partn Show less Read more
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