Advertisement
U.S. markets open in 5 minutes
  • S&P Futures

    5,311.25
    +3.00 (+0.06%)
     
  • Dow Futures

    40,190.00
    +46.00 (+0.11%)
     
  • Nasdaq Futures

    18,510.25
    +6.50 (+0.04%)
     
  • Russell 2000 Futures

    2,141.70
    +3.30 (+0.15%)
     
  • Crude Oil

    82.45
    +1.10 (+1.35%)
     
  • Gold

    2,232.80
    +20.10 (+0.91%)
     
  • Silver

    24.78
    +0.03 (+0.11%)
     
  • EUR/USD

    1.0810
    -0.0020 (-0.18%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • Vix

    12.96
    +0.18 (+1.41%)
     
  • GBP/USD

    1.2636
    -0.0002 (-0.01%)
     
  • USD/JPY

    151.3160
    +0.0700 (+0.05%)
     
  • Bitcoin USD

    70,784.72
    -525.95 (-0.74%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.10
    +20.12 (+0.25%)
     
  • Nikkei 225

    40,168.07
    -594.66 (-1.46%)
     

HAGENS BERMAN Encourages ContextLogic (WISH) Investors with Significant Losses to Contact its Attorneys Now, Securities Fraud Lawsuit Filed and Deadline Approaching

San Francisco, California--(Newsfile Corp. - June 9, 2021) - Hagens Berman urges ContextLogic Inc. (NASDAQ: WISH) investors with significant losses to submit your losses now. A securities class action is pending and certain investors who purchased shares in the company's December 2020 IPO or on the open market may have valuable claims.

Class Period: Dec. 16, 2020 - May 12, 2021
Lead Plaintiff Deadline: July 16, 2021
Visit: www.hbsslaw.com/investor-fraud/WISH
Contact An Attorney Now: WISH@hbsslaw.com
844-916-0895

ContextLogic Inc. (NASDAQ: WISH) Securities Class Action:

The complaint alleges that ContextLogic's IPO registration documents materially overstated the company's business metrics and financial prospects. Specifically, the IPO registration documents touted ContextLogic's exponential monthly active user (MAUs) growth, claiming its then108 million MAUs was a key driver of revenue growth.

In reality, by the time of its December 2020 IPO, ContextLogic's MAUs had declined materially and the IPO registration documents failed to disclose this known trend reasonably likely to materially impact ContextLogic's profitability.

On Mar. 8, 2021, Context reported disappointing 4Q 2020 and full year 2020 results, disclosing its MAUs had already "declined 10% YoY during Q4 to 104 million."

Then, on May 12, 2021, ContextLogic announced poor Q1 2021 results, including another 7% drop in MAUs to just 101 million, and the company slashed sales guidance for Q2 2021.

These disclosures caused the price of WISH shares to decline sharply.

"We're focused on investors' losses and proving ContextLogic overstated MAUs and concealed known trends," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a ContextLogic investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding ContextLogic should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email WISH@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87002

Advertisement