According to the Complaint, Goldman Sachs and Morgan Stanley sold a large amount of Baidu shares during the Class Period while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
The alleged class includes : All those investors who purchased or otherwise acquired Baidu shares contemporaneously with Defendants’ unlawful trades from March 22, 2021 through and including March 29, 2021.
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