Investors Who Acquired iQIYI Securities Between March 22, 2021 And March 29, 2021 Are Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of iQIYI, Inc. (“iQIYI” or the “Company”) (NASDAQ: IQ).
On December 2, 2021, a class action lawsuit was filed in United States District Court, Southern District of New York, against Goldman Sachs Group Inc. and Morgan Stanley on behalf of all those investors who purchased, or otherwise acquired, IQIYI shares contemporaneously with Defendants’ alleged unlawful trades from March 22, 2021 through and including March 29, 2021 (the “Class Period”).
To view a copy of the Complaint, please click “iQIYI Complaint.”
To contact Kehoe Law Firm, P.C. about joining the class action lawsuit, please click “Join The Securities Class Action.”
The securities class action investigation concerns the trading by Goldman Sachs and Morgan Stanley in late March 2021 and whether those investment banks traded on material, non-public information by selling large amounts of iQIYI stock based on information obtained through their relationship with Archegos Capital Management. The investigation also focuses on whether both banks avoided billions of dollars of losses by selling before the information was publicly available.
Shares of iQIYI stock fell over 40% during the week of March 22, 2021 to March 29, 2021, thereby injuring investors.