Lawsuit filed for Investors in shares of Pinterest, Inc. (NYSE: PINS)

An investor, who purchased shares of Pinterest, Inc. (NYSE: PINS), filed a lawsuit over alleged violations of Federal Securities Laws by Pinterest, Inc.

Investors who purchased shares of Pinterest, Inc. (NYSE: PINS) have certain options and for certain investors are short and strict deadlines running. Deadline: June 28, 2021. NYSE: PINS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Francisco, CA based Pinterest, Inc. provides visual discovery engine in the United States and internationally. On April 27, 2021, after the market closed, Pinterest, Inc. announced its first quarter 2021 financial results and reported that global monthly active users grew only 30% year-over-year to 478 million, a decline from the prior quarter’s 37% year-over-year growth. During the conference call held the same day, Pinterest’s Chief Executive Officer stated that "[a]s pandemic lockdowns were eased in some parts of the world during mid-March, we began to see signs of less engagement and user growth on Pinterest."

Shares of Pinterest, Inc. (NYSE: PINS) declined to $63.25 per share on May 3, 2021.

The plaintiff claims that between February 4, 2021 and April 27, 2021, the defendants failed to disclose to investors that user growth was already slowing, that, as a result, the Company expected user engagement to slow in the second quarter of 2021, and that, as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Those who purchased shares of Pinterest, Inc. (NYSE: PINS) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.