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PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

ContextLogic, Inc. Investors: Last Days to Participate Actively in the Class Action Lawsuit; ...

July 13, 2021 GMT

Investors with losses are encouraged to contact the firm before June 16, 2021; click here to submit trade information

​LOS ANGELES, July 13, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of ContextLogic Inc. (NASDAQ: WISH) investors that acquired shares between December 16, 2020 and May 12, 2021. Investors have until June 16, 2021 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

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The investigation focuses on whether ContextLogic issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On May 12, 2021, ContextLogic reported a first-quarter loss of $128 million, based on $772 million of sales. ContextLogic suffered from a loss in the quarter that was almost double 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.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 16, 2021.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com  

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