Baidu defeats U.S. shareholder lawsuit over China internet law compliance

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By Jonathan Stempel

(Reuters) – A U.S. judge has dismissed a lawsuit accusing Baidu Inc of defrauding shareholders about its ability to comply with Chinese regulations governing internet content.

In a Wednesday night decision, U.S. District Judge Lucy Koh rejected claims in the proposed class action that 12 statements that Baidu made from March 2019 to March 2020 were false and misleading and inflated the Beijing-based company’s share price.…

This data comes from the ChinaPulse.com media intelligence and smart news insights monitoring platform.

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