LOS ANGELES–(COMMERCIAL THREAD) – Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Goldman Sachs Group Inc. and Morgan Stanley on behalf of shareholders of iQIYI, Inc. (“iQIYI” or âThe Companyâ) (NASDAQ: IQ) for violating securities laws.
Investors who purchased the Company’s securities between March 22, 2021 and March 29, 2021 inclusive (the âRecourse Periodâ), are invited to contact the company before January 31, 2022.
If you are a shareholder who has suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com or by email at [email protected]
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by legal counsel. If you choose not to take any action, you can remain an absent member of the group.
According to the complaint, Goldman Sachs Group Inc. and Morgan Stanley sold a large number of iQIYI shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would have to completely liquidate its position in iQIYI due to pressure on margin calls. The defendants avoided billions in losses by selling the shares of the company despite being in possession of this information. When the market learned the truth about iQIYI, investors suffered damage.
Join the case to recoup your losses.
Schall law firm represents investors around the world and specializes in securities class actions and shareholder rights litigation.
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