WISH ALERT- Nationally Ranked Shareholder Rights Firm Labaton Sucharow is Investigating ContextLogic Inc. (NASDAQ: WISH) For Potential Securities Violations and Breach of Fiduciary Duty
NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, is investigating potential securities violations and breach of fiduciary duty claims against ContextLogic Inc. (NASDAQ:WISH).
On May 12, ContextLogic Inc. closed down over 12% on enormous volume after they reported a first-quarter loss of $128 million, or 21 cents a share, on sales of $772 million Wednesday, after reporting a loss of $66 million on sales of $440 million in the year-ago quarter.
WISH went public at the end of last year at a price of $24 a share, but fell lower than that price on its first day of trading and has traded steadily lower than the IPO price since mid-February. Shares closed Wednesday with a 2.6% decline at $11.47, and dropped more than 12% in after-hours trading following the release of the results.
If you currently own shares and/or options of WISH and want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.
Contact:
David J. Schwartz
(800) 321-0476
david@labaton.com
SOURCE: Labaton Sucharow LLP
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