New York, New York--(Newsfile Corp. - May 27, 2021) - WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of ContextLogic Inc. (NASDAQ: WISH) who: (1) purchased or otherwise acquired publicly traded ContextLogic securities between December 16, 2020 and May 12, 2021, inclusive (the "Class Period"); and/or (2) purchased or otherwise acquired ContextLogic common stock pursuant and/or traceable to the offering documents issued in connection with the Company's initial public offering conducted on or about December 16, 2020 (the "IPO" or "Offering"). If you wish to serve as lead plaintiff, you must move the Court no later than July 16, 2021.
SO WHAT: If you purchased ContextLogic securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the ContextLogic class action, go to http://www.rosenlegal.com/cases-register-2097.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. If you wish to serve as lead plaintiff, you must move the Court no later than July 16, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the Offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) ContextLogic's fourth quarter 2020 monthly active users ("MAUs") had declined materially and were not then growing; and (2) as a result of the foregoing, defendants materially overstated the Company's business metrics and financial prospects. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the ContextLogic class action, go to http://www.rosenlegal.com/cases-register-2097.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85559
