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US court dismisses class action against Baidu for alleged shareholder fraud over content compliance

Friday 9 April 2021 | 14:42 CET | News
A US judge has dismissed a lawsuit accusing search engine Baidu of defrauding shareholders about its ability to comply with Chinese regulations governing internet content, Reuters reported. On 08 April, US District Judge Lucy Koh rejected claims in the proposed class action that twelve statements made by Baidu from March 2019 to March 2020 were false and misleading, and inflated the Beijing company's share price.

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Categories: Internet
Companies: Baidu
Countries: China / United States
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