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A U.S. judge has dismissed a lawsuit accusing Baidu Inc<\/a> of defrauding shareholders about its ability to comply with Chinese regulations governing internet<\/a> content.
In a Wednesday night decision, U.S. District Judge Lucy Koh rejected claims in the proposed class action that 12 statements that Baidu<\/a> made from March 2019 to March 2020 were false and misleading and inflated the Beijing-based company's share price.
The statements included that the world's largest search engine other than Alphabet Inc's Google had \"cleaned up\" harmful or questionable content such as material related to drugs, gambling and pornography, giving users more confidence and potentially boosting online traffic and revenue.
Koh, based in San Jose, California, also found no proof of an intent to defraud, after the plaintiff Roger Ikeda argued that senior Baidu<\/a> executives concealed compliance shortfalls to avoid fines and suspensions from the Chinese government.
Lawyers for Ikeda did not immediately respond to requests for comment on Thursday, nor did Baidu's lawyers.
The lawsuit was filed last April, shortly after China's internet<\/a> regulator Cyberspace Administration of China ordered Baidu to halt the spread of \"low-brow content,\" prompting Baidu to suspend some channels on its mobile app.
Baidu resumed updating the channels two weeks later.
The proposed shareholder class included holders of Baidu's American depositary shares from March 16, 2019 to April 7, 2020. Koh dismissed the lawsuit without prejudice, meaning the plaintiffs can amend their complaint.
The case is Ikeda v Baidu Inc<\/a> et al, U.S. District Court, Northern District of California, No. 20-02768.
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百度击败美国股东诉讼在中国互联网法律遵从性
在周三晚上的决定,美国地区法官露西Koh拒绝提出集体诉讼声称12语句百度由2019年3月至2020年3月被虚假和误导,夸大了北京公司的股价。
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一位美国法官驳回诉讼指责百度(bidu . o:行情)欺诈股东对其能力遵守中国的规定互联网内容。
在周三晚上的决定,美国地区法官露西Koh拒绝提出集体诉讼声称12语句百度由2019年3月至2020年3月被虚假和误导,夸大了北京公司的股价。
语句包含字母以外,世界上最大的搜索引擎公司谷歌的“清理”有害或可疑内容如材料与药物有关,赌博和色情,给用户更多的信心和潜在的增加网络流量和收入。
Koh,位于加州圣何塞也没有发现证据的意图欺骗,在原告罗杰Ikeda认为高级百度高管隐藏合规不足,以避免中国政府的罚款和停业。
Ikeda的律师没有立即回复记者的置评请求周四,百度也没有律师。
去年4月提起诉讼,中国后不久互联网中国监管机构网络管理要求百度停止传播的“低俗的内容,促使百度暂停一些渠道的手机应用程序。
百度更新频道两周后恢复。
提议股东类包括百度美国存托股票的持有者从3月16日,2019年4月7日,2020年。Koh驳回诉讼毫无偏见,这意味着原告可以修改他们的投诉。
该病例是Ikeda v百度(bidu . o:行情)et al,美国地方法院,加州北部地区20 - 02768。
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