NEW YORK, Jan. 20, 2022 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of those who acquired Baidu, Inc., Discovery Inc., and iQIYI Inc. securities from March 22, 2021 to March 29, 2021 (the “Class Period”). The lawsuit alleges throughout the Class Period, Goldman Sachs and Morgan Stanley sold a large amount of their shares in the companies while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the above-referenced companies because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits.

Baidu, Inc. (“Baidu” or the “Company”) (NASDAQ: BIDU)

Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: February 14, 2022

For additional information on the Baidu lawsuit please visit this website.

Discovery Inc. (“Discovery” or the “Company”) (NASDAQ: DISCA, DISCK)

Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: March 8, 2022

For additional information on the Discovery lawsuit please visit this website.

iQIYI Inc. (“iQIYI” or the “Company”) (NASDAQ: IQ)

Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: January 31, 2022

For additional information on the iQIYI lawsuit please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
[email protected]
www.kmllp.com