Ademi & O’Reilly, LLP is investigating possible securities fraud claims against Iqiyi (Nasdaq: IQ) resulting from inaccurate statements Iqiyi made regarding its internal controls, business practices, financial statements and prospects.

The investigation focuses on whether Iqiyi issued false and misleading statements regarding its financial statements and prospects.  Specifically, Iqiyi announced that the SEC was investigating the company and seeking financial and operating records dating from January 2018 and documents about acquisitions and investments.