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China’s Internet regulator said it will probe Baidu ( BIDU ) over the death of a university student who had used the search engine to look for treatment for his cancer. The 21-year-old university student, Wei Zexi, died last month of a rare form of cancer, Reuters reported . Wei had posted criticism online accusing Baidu of promoting false medical information, as well as the hospital for misleading advertising in claiming a high success rate for the experimental treatment, state radio said. The company said it would fully cooperate. In 2010, China’s state-run television accused Baidu of promoting counterfeit drugs through its search engine. U.S. shares of Baidu were down 7.5% in early trading in the stock market today , near 179. Baidu stock broke out of a cup-with-handle base at 189.90 on March 29, but is now down nearly 6% from its breakout. On Friday, however, Baidu stock had touched a four-month intraday high of 201. Scalper1 News
Scalper1 News