ROSEN, A TRUSTED AND LEADING LAW FIRM, Encourages iQIYI, Inc. Investors with Losses to Secure Counsel Before Important January 31 Deadline in Securities Class Action - IQ

NEW YORK, Dec. 23, 2021

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of iQIYI, Inc. (NASDAQ: IQ) between March 22, 2021 and March 29, 2021, inclusive (the "Class Period"), of the important January 31, 2022 lead plaintiff deadline.

SO WHAT: If you purchased iQIYI securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the iQIYI class action, go to http://www.rosenlegal.com/cases-register-2220.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, Goldman Sachs Group Inc. and Morgan Stanley sold a large number of iQIYI American Depository Receipts (ADRs) during the Class Period while in possession of material non-public information. The defendants knew that Archegos Capital Management, at the time a family office with $10 billion under management, would need to fully liquidate its position in iQIYI because of margin call pressures. As a result of these sales, the defendants in the case, Goldman Sachs and Morgan Stanley, avoided billions in losses combined.