GlobeNewswire Inc | Nov 27, 2021 05:00AM EST

November 27, 2021

NEW YORK, Nov. 27, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against iQIYI, Inc. (iQIYI or the Company) (NASDAQ: IQ) on behalf of iQIYI stockholders. Our investigation concerns whether iQIYI has violated the federal securities laws and/or engaged in other unlawful business practices.

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The securities 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.

If you purchased or otherwise acquired iQIYI shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

Contact Information:Bragar Eagel & Squire, P.C.Brandon Walker, Esq.Alexandra B. Raymond, Esq.(212) 355-4648investigations@bespc.comwww.bespc.com