{"id":484856,"date":"2021-04-29T16:31:27","date_gmt":"2021-04-29T20:31:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pins-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-pinterest-inc\/"},"modified":"2021-04-29T16:31:27","modified_gmt":"2021-04-29T20:31:27","slug":"pins-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-pinterest-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pins-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-pinterest-inc\/","title":{"rendered":"PINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc."},"content":{"rendered":"

<\/p>\n

PINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc.<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California captioned LeMoure v. Pinterest, Inc., et al.,<\/i> (Case No. 3:21-cv-03181) on behalf of persons and entities that purchased or otherwise acquired Pinterest, Inc. (\u201cPinterest\u201d or the \u201cCompany\u201d) (NYSE: PINS<\/a>) securities between February 4, 2021 and April 27, 2021<\/b>, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d).\n<\/p>\n

\nInvestors are hereby notified that they have 60 days from this notice<\/b> to move the Court to serve as lead plaintiff in this action.\n<\/p>\n

\nIf you suffered a loss on your Pinterest investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/pinterest-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> or visit our website at www.glancylaw.com<\/a> to learn more about your rights.\n<\/p>\n

\nPinterest operates a platform that purports to provide inspiration for its users\u2019 lives. Monthly active users (\u201cMAUs\u201d) are the number of Pinterest users who interact with Pinterest at least once during the 30-day period ending on the date of measurement.\n<\/p>\n

\nOn April 27, 2021, after the market closed, Pinterest 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\u2019s 37% year-over-year growth. During the conference call held the same day, Pinterest\u2019s Chief Executive Officer stated that \u201c[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.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $11.25, or 14.5%, to close at $66.33 per share on April 28, 2021, on unusually heavy trading volume.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that user growth was already slowing; (2) that, as a result, the Company expected user engagement to slow in the second quarter of 2021; and (3) that, as a result, Defendants\u2019 statements about its business, operations, and prospects were materially false and misleading and\/or lacked reasonable basis at all relevant times.\n<\/p>\n

\nFollow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired Pinterest securities during the Class Period, you may move the Court no later than 60 days from this notice <\/b>toask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210429006130\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles H. Linehan, 310-201-9150 or 888-773-9224
\n
1925 Century Park East, Suite 2100
\n
Los Angeles, CA 90067
\n
www.glancylaw.com
\n<\/a>
shareholders@glancylaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc. LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California captioned LeMoure v. Pinterest, Inc., et al., (Case No. 3:21-cv-03181) on behalf of persons and entities that purchased or otherwise acquired Pinterest, Inc. (\u201cPinterest\u201d or the \u201cCompany\u201d) (NYSE: PINS) securities between February 4, 2021 and April 27, 2021, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). Investors are hereby notified that they have 60 days from this notice to move the … <\/p>\n

Continue reading “PINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-484856","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pins-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-pinterest-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PINS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Pinterest, Inc. LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California captioned LeMoure v. Pinterest, Inc., et al., (Case No. 3:21-cv-03181) on behalf of persons and entities that purchased or otherwise acquired Pinterest, Inc. (\u201cPinterest\u201d or the \u201cCompany\u201d) (NYSE: PINS) securities between February 4, 2021 and April 27, 2021, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). 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