The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Contextlogic Inc. (NASDAQ: WISH) who: i) purchased or otherwise acquired securities of ContextLogic, Inc. (“ContextLogic”) (NASDAQ: WISH) and/or sold put options of ContextLogic during the period from December 16, 2020 to May 12, 2021, inclusive; and/or (ii) purchased ContextLogic securities pursuant and/or traceable to the Company’s initial public offering conducted on or about December 16, 2020. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Contextlogic lawsuit alleges that the strength of ContextLogic’s business operations and financial prospects by overstating its then-present monthly active users (“MAUs”) and MAU growth trends.
Shareholders have until July 16, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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