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Class Action Filing Deadline - Barbuto & Johansson, P.A. Reminds Investors of the Pending Lawsuit Against iQIYI, Inc. and Encourages Shareholders With Significant Losses to Contact the Firm

WELLINGTON, Fla., May 13, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. reminds investors that they have until June 15, 2020 to contact the Firm to learn more about the class action lawsuit filed against iQIYI, Inc. (NASDAQGS: IQ) and appointment and qualifications to be considered for the role of lead plaintiff.  Investors with significant losses are encouraged to contact the Firm.

According to the lawsuit, during the Class Period of March 29, 2018 and April 7, 2020, iQIYI materially misled the investing public regarding its business and operations.  It is alleged, in part, that during the Class Period, iQIYI failed to disclose that the Company inflated its revenue figures and user numbers, and inflated its expenses to cover up a fraud.  On April 7, 2020, Wolfpack Research released a report detailing, among other things, how iQIYI had misled investors and failed to disclose pertinent information generally and in its Registration Statement.  iQIYI has traded as high as $27.50 per share during the Class Period, and was trading at approximately $17.30 per share at the end of the Class Period.

If you’ve suffered damages from investing in iQIYI and would like to discuss your options including petitioning the court for a leadership position, you may, without obligation or cost to you, contact the Firm’s Managing Partner, Anthony Barbuto, at (888) 715-2520 or via email at anthony@barjolaw.com.

The Firm follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir. 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” The Firm believes strongly that the choice of qualified lead plaintiff(s) can have a significant impact on the successful outcome of a case.

Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
12773 W. Forest Hill Blvd., 101
Wellington, FL 33414
1-888-715-2520
www.barjolaw.com