LOS ANGELES, CA / ACCESSWIRE / April 30, 2021 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pinterest, Inc. ("Pinterest" or "the Company") (NYSE: PINS) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Pinterest released its first-quarter earnings report on April 27, 2021, after normal market hours. Multiple news organizations reported that the Company's monthly active users (MAU) grew by just 30% in the quarter, as compared to the previous quarter's jump of 37%. The Company stated, "Starting in mid-March, the easing of pandemic restrictions slowed U.S. MAU growth and lowered engagement year-over-year as people spent less time online." Based on this news, shares of Pinterest fell by almost 15% on April 28, 2021.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm