NEW YORK, NY / ACCESSWIRE / April 30, 2021 / Labaton Sucharow, a national shareholder rights litigation firm, is the first securities class action law firm to announce an investigation of Pinterest (NYSE: PINS) related to its April 27, 2021 quarterly disclosures.
Investors who purchased PINS's shares or options between February 4, 2021, and April 27,2021 inclusive (the ''Class Period''), are encouraged to contact the litigation partner assigned to the matter, David J. Schwartz via email at [email protected] or using the toll-free number (800) 321-0476.
Pinterest (NYSE:PINS) stock plunged by more than 10% in after-hours trading on April 27 following the release of its first-quarter earnings report. News outlets reported that Pinterest's monthly active users (MAU), a widely watched metric, grew only 30% to 478 million in the first quarter. That was in contrast to last quarter's 37% jump on a year-over-year basis.
"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," Pinterest said.
Labaton Sucharow is investigating the Company's disclosures concerning Pinterest's monthly active users.
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.
Contact:
David J. Schwartz
(800) 321-0476
[email protected]
SOURCE: Labaton Sucharow