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News  ›  GlobeNewswire Inc.

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Baidu, Inc. - BIDU

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Pomerantz Llp
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Baidu, Inc. - BIDU

Law firm Pomerantz LLP is investigating Baidu for potential securities fraud following a Bloomberg report that the Pentagon concluded the Chinese tech company should be added to a list of firms aiding the Chinese military. Baidu's ADR stock fell 1.31% on the news.

Insights
BBAI.WS   negative

Q3 sales fell 20%, operating losses doubled, net losses of $288 million, struggling revenue growth, and challenges maintaining government contracts


BIDU   negative

Pentagon designation as aiding Chinese military triggered securities fraud investigation and caused immediate 1.31% stock price decline, raising concerns about regulatory risks and potential delisting or sanctions.