1. China Streaming Platform iQIYI Accused of Fraud by Activist Investor Wolfpack

    China Streaming Platform iQIYI Accused of Fraud by Activist Investor Wolfpack

    U.S.-based securities analysis firm and activist investor Wolfpack Research has publicly accused Chinese streaming platform iQIYI of fraud. iQIYI “massively [inflated] its user numbers and revenue while at the same time hiding the fraud from auditors and investors by overpaying for content, acquisitions and other assets,” Wolfpack said. “IQIYI is nearing its 10-year anniversary and it has never been profitable and its losses are accelerating...

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