LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ContextLogic Inc. (“ContextLogic” or “the Company”) (NASDAQ: WISH) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ContextLogic reported a first-quarter loss of $128 million based on sales of $772 million on May 12, 2021. The Company suffered from a loss in the quarter almost doubled on a year-over-year basis. The prior year’s first-quarter loss of $66 million came on $440 million in sales. Based on this news, shares of ContextLogic dropped in after-hours trading and traded down more than 25% in intraday trading on May 13, 2021.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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