Pinterest, Inc. Investors: Last Days to Participate
Investing at a loss is advised to contact the company before June 28, 2021. Click here to submit trade information
LOS ANGELES, June 3, 2021 (GLOBE NEWSWIRE) – Law firm Portnoy is announcing to investors that a class action lawsuit has been filed on behalf of investors by Pinterest, Inc. (NYSE: PINS) that shares between February 4, 2021 and April acquired June 27, 2021. Investors have until June 28, 2021 to seek an active role in this litigation.
Investors are encouraged to contact Attorney Lesley F. Portnoy by phone at 310-692-8883 or email to determine eligibility to participate in this lawsuit or click here to join the case.
The complaint alleges that Pinterest made misleading and / or false information and / or failed to disclose: (1) Pinterest’s addressable market in the US was nearing its maximum capacity; (2) which significantly slowed Pinterest’s future ability to monetize average US sales per user; (3) Pinterest’s risk of losing advertising revenue increased; and (4) Pinterest’s public statements were, at all relevant times, materially misleading and false or unfounded and therefore omitted material facts.
On October 31, 2019, post-market, Pinterest released its financial results for the third quarter of 2019. Pinterest reported disappointing financial results, including an 8% year-over-year growth in U.S. MAUs that reached 87 million, just 8 million more than in the same period last year. Pinterest also missed its expected US advertising revenue. Pinterest’s forecast was raised only slightly, which meant a further slowdown in the coming quarters.
Pinterest’s share price fell about 17% on this news, closing at $ 20.86 per share on November 1, 2019, with an unusually high trading value.
A class action lawsuit has already been filed. If you want to stand as the lead plaintiff, you must postpone the court no later than June 28, 2021.
Please visit our website to review more information and submit your transaction information.
Portnoy law firm represents investors in prosecuting corporate violations. The company’s founding partner has recovered over $ 5.5 billion for aggrieved investors. Lawyer advertising. Previous results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Approved CA and NY bar