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Case Status:    ONGOING    
On or around 04/22/2020 (Date of last review)

Filing Date: April 21, 2020

According to the Complaint, Baidu, Inc. is a technology company specializing in Internet-related services and products and artificial intelligence. The Baidu search engine is the second largest search engine in the world and the most widely used search engine in China, with a market share of more than 70%. The Company also provides a portfolio of apps that provide mobile device access to the Company’s search and feed services, along with social media services and both user generated and professionally produced media content.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Baidu’s feed services were not in compliance with applicable Chinese regulatory standards; (ii) the foregoing noncompliance subjected the Company to a heightened risk of regulatory enforcement, including the removal or suspension of certain of Baidu’s services and products; (iii) accordingly, the Company’s revenues derived from online marketing services were unlikely to be sustainable; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: BIDU
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 20-CV-02768
JUDGE: Hon. Lucy H. Koh
DATE FILED: 04/21/2020
CLASS PERIOD START: 03/16/2019
CLASS PERIOD END: 04/07/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available