Baidu (BIDU) to Face RMB 174M Lawsuit for Manipulating Search Results for Qmyyw.com
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According to a report from PacificEpoch.com, Baidu.com (Nasdaq: BIDU) will face a RMB174.4 million lawsuit for manipulating its search results for medical information site www.qmyyw.com.
Qmyyw.com's suit claims that Baidu search results now exclude Qmyyw.com's content following the company's reduction in its payment for Baidu's bid ranking service. Citing reports from the Southern Metropolis Weekly, the rumor points out that Qmyyw.com purchased a number 3 spot on Baidu's site for RM89,000 in March, but after the site lowered its payment in July, its visits fell from over 88,000 hits to 18,340 hits in just a month.
Baidu has now claimed that its "search results are not influenced by its bid ranking service".
Despite the negative news, shares of Baidu are currently trading about 2% higher, and most recently traded at $222.39.
Baidu.com, Inc., through its subsidiaries, provides Chinese language Internet search services primarily in the People's Republic of China.
Qmyyw.com's suit claims that Baidu search results now exclude Qmyyw.com's content following the company's reduction in its payment for Baidu's bid ranking service. Citing reports from the Southern Metropolis Weekly, the rumor points out that Qmyyw.com purchased a number 3 spot on Baidu's site for RM89,000 in March, but after the site lowered its payment in July, its visits fell from over 88,000 hits to 18,340 hits in just a month.
Baidu has now claimed that its "search results are not influenced by its bid ranking service".
Despite the negative news, shares of Baidu are currently trading about 2% higher, and most recently traded at $222.39.
Baidu.com, Inc., through its subsidiaries, provides Chinese language Internet search services primarily in the People's Republic of China.
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