LOS ANGELES, Dec. 8, 2021 /PRNewswire/ -- The 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 in iQIYI, Inc. ("iQIYI" or "the Company") (NASDAQ: IQ) for violations of the securities laws.
Investors who purchased the Company's securities between March 22, 2021 and March 29, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before January 31, 2022.
If you are a shareholder who 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 firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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 need to fully liquidate its position in iQIYI based on margin call pressures. The defendants avoided billions in losses by selling the Company's shares while in possession of this information. When the market learned the truth about iQIYI, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
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SOURCE The Schall Law Firm