Notice of Lead Plaintiff Deadline for Shareholders in the Baidu, Inc. Securities Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces that a securities class action lawsuit has been filed in the Northern District of California on behalf of purchasers of Baidu, Inc. (NASDAQ:BIDU) securities between March 16, 2019 and April 7, 2020 (the “Class Period”). The case is captioned Ikeda v. Baidu, Inc., No. 20-cv-2768, and is assigned to Judge Lucy H. Koh. The Baidu securities class action lawsuit charges Baidu and certain of its officers with violations of the Securities Exchange Act of 1934.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Baidu securities during the Class Period to seek appointment as lead plaintiff in the Baidu securities class action lawsuit. A lead plaintiff acts on behalf of all other class members in directing the Baidu securities class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Baidu securities class action lawsuit. An investor’s ability to share in any potential future recovery of the Baidu securities class action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the Baidu securities class action lawsuit or have questions concerning your rights regarding the Baidu securities class action lawsuit, please visit our website by clicking here or contact Brian Cochran at 800/449-4900 or 619/231-1058, or via e-mail at [e-mail]. Lead plaintiff motions for the Baidu securities class action lawsuit must be filed with the court no later than June 22, 2020.

Baidu is a technology company specializing in Internet-related services and products and artificial intelligence. Baidu generates a substantial majority of its revenues from online marketing services, whereby Baidu integrates paid advertisements from its customers into its online products and services, taking advantage of Baidu’s large user base and traffic. Accordingly, Baidu’s revenues depend, in large part, upon offering products and services that are accessible to a large and engaged user base.

Over the past several years, Baidu has increasingly emphasized its feed services. Baidu added a personalized news feed to its search app in 2016, which allows users to wait passively for Baidu algorithms to display content based on the user’s past habits, rather than actively inputting search terms. Describing Baidu’s business model in a May 2019 article, the publication TechCrunch stated that “Baidu’s new two-legged strategy means feed is now of equal, if not more, weight alongside search as the company better embraces the mobile age.”