Farfetch and Baidu Securities Fraud Investigation

11.23.2021

Our public protection attorneys are investigating potential securities fraud claims against Goldman Sachs Group Inc. and Morgan Stanley following reports that they profited off insider knowledge of Archegos Capital Management’s impending collapse by selling shares of Baidu Inc. and Farfetch Ltd.—in which they held large stakes on Archegos’ behalf—before news of its demise came to light. Goldman Sachs and Morgan Stanley may thereby have avoided losses and harmed investors in Baidu Inc. and Farfetch Ltd.

Did you invest in Baidu or Farfetch between March 22 and March 29, 2021? Speak to a financial fraud lawyer.

If you invested in Baidu Inc., or Farfetch Ltd., between March 22, 2021 and March 29, 2021, you may be entitled to relief. Protect your rights by speaking with a Girard Sharp attorney. Call us toll-free at (866) 981-4800 or submit your information below:

Speak to a Lawyer






More Details on the Potential Claims Against Goldman Sachs and Morgan Stanley

During the week of March 22, 2021, the investment banks Goldman Sachs and Morgan Stanley sold large blocks of Baidu Inc. and Farfetch Ltd. stock. According to public reporting, the banks executed these trades while knowing that Archegos Capital Management had failed, or was likely to fail, a margin call. Such failure would require Archegos to liquidate its stake in certain of its holdings, forcing the banks to sell their Baidu and Farfetch shares at a substantially lower price.

By offloading this stock before news of Archegos’ troubles broke, Goldman Sachs and Morgan Stanley may have avoided billions of dollars in losses and harmed those who invested in Baidu and Farfetch during the same period.  

Our Commitment to Excellence

Girard Sharp has earned national Tier 1 rankings for Mass Tort and Class Action Litigation and has been named to the U.S. News – Best Lawyers “Best Law Firms” list each year since 2013. Read about some of our results.

We have recovered over a billion dollars for our clients against some of the nation’s largest corporations, such as Raymond James, Peregrine Financial Group, and OppenheimerFunds, in cases arising from securities fraud, false advertising and other unfair business practices.

For a free consultation about your potential claims, contact one of our investment fraud lawyers at (866) 981-4800 or fill out the form at the top of this page.

Main Menu