(Reuters) - iQIYI said on Monday an internal review concluded that a short-seller's allegations about the streaming service inflating many of its financial metrics were without merit.
Shares of the company were up 3% in early trading.
IQIYI, owned by China's Baidu Inc (NASDAQ:BIDU), said in August it was being probed by the U.S. Securities and Exchange Commission, which was seeking documents related to acquisitions and investments identified in a report issued by short-seller firm Wolfpack Research in April.
Wolfpack did not immediately respond to a request for comment.
It had accused iQIYI of inflating user numbers, revenue and the prices the company pays for content.