Contextlogic is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: the strength of ContextLogic’s business operations and financial prospects by overstating its then-present monthly active users (“MAUs”) and MAU growth trends.
If you incurred a loss on: i) securities of ContextLogic, Inc. (“ContextLogic”) (NASDAQ: WISH) purchased or otherwise acquired and/or put options of ContextLogic sold during the period from December 16, 2020 to May 12, 2021, inclusive; and/or (ii) ContextLogic securities purchased pursuant and/or traceable to the Company’s initial public offering conducted on or about December 16, 2020, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the Northern District of California, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until July 16, 2021 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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