NEW YORK, Jan. 13, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Pinterest, Inc. ("Pinterest" or the "Company") (NYSE: PINS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Pinterest and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On October 31, 2019, Pinterest announced disappointing preliminary financial results for the third quarter 2019. Pinterest reported net revenue of only $279.7, versus the consensus projection of $282 million, indicating strong deceleration in the growth of its domestic user base. The Company also gave full year 2019 guidance, which it only marginally increased, indicating further deceleration in future quarters.
On this news, Pinterest's stock price fell $4.28 per share, or 17.02%, to close at $20.86 per share on November 1, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
