Scott+Scott Attorneys at Law LLP Announces Investigation Into ContextLogic Inc. (WISH)

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether ContextLogic Inc. (“ContextLogic” or the “Company”) (NASDAQ: WISH) or certain of its officers and directors violated federal securities laws. If you purchased or otherwise own ContextLogic stock, and have suffered a loss, you are encouraged to contact Jonathan Zimmerman at [phone] for more information.

In December 2020, ContextLogic, which offers a discount online-purchasing platform, undertook an initial public offering, making available 46 million shares at $24 per share.

On May 12, 2021, ContextLogic reported a first-quarter loss of $128 million, or 21 cents a share, on sales of $772 million. In the same period a year prior, ContextLogic reported a loss of $66 million on sales of $440 million.

On this news, shares closed Wednesday 2.6% down, or at $11.47, before then dropping more than 12% in after-hours trading.

What You Can Do

If you purchased or otherwise own ContextLogic stock, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at [phone], or at [e-mail], or visit the ContextLogic investigation page on our website at https://scott-scott.com/investigation/contextlogic-inc/.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.

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