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May 26, 2021, New York, New York-Pomerantz LLP represents Pinterest, Inc. (“Pinterest” or “Company”) (New York Stock Exchange:pin). It is recommended that such investors contact Robert S. Willoughby at: newaction@pomlaw.com Or 888-476-6529, extension 7980.
The investigation involves whether Pinterest and certain officials and/or directors are engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On April 27, 2021, after the market closed, Pinterest announced its financial results for the first quarter of 2021, and reported that global monthly active users only increased by 30% year-on-year to 478 million, a decrease from 37% in the previous quarter. . In a conference call held on the same day, the CEO of Pinterest stated:[a]In mid-March, the pandemic blockade in some parts of the world eased, and we began to see signs of decline in Pinterest participation and reduced user growth. ”
On this news, Pinterest’s stock price fell by 11.25 US dollars per share on April 28, 2021, a 14.5% drop, to close at 66.33 US dollars per share.
Pomerantz has offices in New York, Chicago, Los Angeles and Paris, and is recognized as one of the leading firms in the field of corporate, securities and antitrust litigation. Pomerantz was founded by Abraham L. Pomerantz, the dean of the late Class Litigation Lawyers Association, and is a pioneer in the field of securities class actions. Today, more than 80 years later, Pomerantz continues to uphold the tradition he established to fight for the rights of victims of securities fraud, breach of fiduciary duties, and corporate misconduct. The company has recovered millions of dollars in damages on behalf of class members.Look www.pomerantzlaw.com.
contact:
Robert Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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