NEW YORK--(BUSINESS WIRE)--Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against ContextLogic, Inc. ("ContextLogic" or the "Company") (NASDAQ: WISH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired ContextLogic securities between December 16, 2020 through May 12, 2021 (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/wish.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements to the market in the registration statement and prospectus issued in connection with its initial public offering ("IPO") and specifically that: (1) ContextLogic's 4Q20 monthly active users ("MAUs") had declined materially and were not then growing; and (2) consequently, defendants materially overstated the Company's business metrics and financial prospects.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/wish or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in ContextLogic you have until July 16, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.