{"id":508317,"date":"2021-06-30T10:02:04","date_gmt":"2021-06-30T14:02:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-scottscott-attorneys-at-law-llp-reminds-investors-of-securities-class-action-against-contextlogic-inc-nasdaq-wish\/"},"modified":"2021-06-30T10:02:04","modified_gmt":"2021-06-30T14:02:04","slug":"investor-alert-scottscott-attorneys-at-law-llp-reminds-investors-of-securities-class-action-against-contextlogic-inc-nasdaq-wish","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-scottscott-attorneys-at-law-llp-reminds-investors-of-securities-class-action-against-contextlogic-inc-nasdaq-wish\/","title":{"rendered":"INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against ContextLogic, Inc. (NASDAQ: WISH)"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against ContextLogic, Inc. (NASDAQ: WISH)<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fscott-scott.com%2Fcase%2Fcontextlogic-inc%2F&amp;esheet=52453661&amp;newsitemid=20210630005656&amp;lan=en-US&amp;anchor=Scott%2BScott+Attorneys+at+Law+LLP&amp;index=1&amp;md5=1d5911d0043249349f405e9a820d534c\">Scott+Scott Attorneys at Law LLP<\/a> (\u201cScott+Scott\u201d), an international shareholder and consumer rights litigation firm, reminds investors of a securities class action lawsuit against ContextLogic, Inc. (NASDAQ: WISH) (\u201cContextLogic\u201d or the \u201cCompany\u201d) and certain of its officers and directors, and the underwriters of the Company\u2019s December 2020 initial public offering (\u201cIPO\u201d), alleging violations of both the Securities Act of 1933 and, separately, the Securities Exchange Act of 1934. <b>If you purchased ContextLogic securities between December 16, 2020 and May 12, 2021 (the \u201cClass Period\u201d), and have suffered a loss, you are encouraged to contact Jonathan Zimmerman for additional information at (888) 398-9312 or <\/b><a rel=\"nofollow\" href=\"mailto:jzimmerman@scott-scott.com\">jzimmerman@scott-scott.com<\/a><b>.<\/b><\/p>\n<p>\nContextLogic is a mobile ecommerce company that operates the Wish platform, which connects customers with merchants across the globe.\n<\/p>\n<p>\nOn December 16, 2020, ContextLogic completed its IPO, issuing 46 million shares of its Class A common stock at $24 per share, raising more than $1.1 billion in gross proceeds. According to the complaint, the Registration Statement and Prospectus used to effectuate ContextLogic\u2019s IPO were materially false and misleading. Specifically, these offering materials misrepresented the then-existing truth about: (1) the \u201cdifferentiated user experience\u201d ContextLogic repeatedly credited as driving the wide-adoption of the Wish platform by customers who are offered access to high-quality merchants, selling affordable, high-quality products, and merchants who are offered reliable logistical services; (2) the Company\u2019s sales and marketing engine, which ContextLogic said it would \u201ccontinue to invest in\u201d and that purportedly serves as a competitive advantage in attracting new users and increasing user engagement on the Wish platform; and (3) the Company\u2019s monthly active user (MAU) growth, which it considered \u201ca key indicator of user engagement and awareness of [its] brand.\u201d\n<\/p>\n<p>\nOn March 8, 2021, ContextLogic reported its fourth quarter and fiscal year 2020 financial results for the period ended December 31, 2020, disclosing that its MAUs had already \u201cdeclined 10% year over year during Q4.\u201d In that same report the company also revealed logistics challenges it faced earlier in the year. On this news, ContextLogic\u2019s stock declined 10%, falling from $17.77 on March 5, 2021 to close at $15.94 per share on March 8, 2021, the next trading day.\n<\/p>\n<p>\nThen on May 12, 2020, ContextLogic announced 1Q21 financial results for the interim period ended March 31, 2021, revealing that its MAUs had declined another 7%. On this news, ContextLogic\u2019s stock price fell $3.36 per share, or 29%, to close at $8.11 per share on May 13, 2021.\n<\/p>\n<p><b>What You Can Do<\/b><\/p>\n<p>\nIf you purchased <b>ContextLogic securities between December 16, 2020 and May 12, 2021<\/b>, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or <a rel=\"nofollow\" href=\"mailto:jzimmerman@scott-scott.com\">jzimmerman@scott-scott.com<\/a>. <b>The lead plaintiff deadline is July 26, 2021<\/b>.\n<\/p>\n<p><b>About Scott+Scott<\/b><\/p>\n<p>\nScott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.\n<\/p>\n<p>\nAttorney Advertising\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210630005656r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210630005656\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210630005656\/en\/<\/a><\/span><\/p>\n<p><b>Jonathan Zimmerman<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fscott-scott.com%2Fcase%2Fcontextlogic-inc%2F&amp;esheet=52453661&amp;newsitemid=20210630005656&amp;lan=en-US&amp;anchor=Scott%2BScott+Attorneys+at+Law+LLP&amp;index=2&amp;md5=fe747face998fa300ca5a98d3be93fed\"><b>Scott+Scott Attorneys at Law LLP<br \/>\n<\/b><\/a><br \/><b>230 Park Avenue, 17th Floor, New York, NY 10169<br \/>\n<\/b><br \/><b>(888) 398-9312<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:jzimmerman@scott-scott.com\"><b>jzimmerman@scott-scott.com<\/b><\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210630005656\/en\/456736\/3\/Scott%2BScott_Logo_Large.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against ContextLogic, Inc. (NASDAQ: WISH) NEW YORK&#8211;(BUSINESS WIRE)&#8211;Scott+Scott Attorneys at Law LLP (\u201cScott+Scott\u201d), an international shareholder and consumer rights litigation firm, reminds investors of a securities class action lawsuit against ContextLogic, Inc. (NASDAQ: WISH) (\u201cContextLogic\u201d or the \u201cCompany\u201d) and certain of its officers and directors, and the underwriters of the Company\u2019s December 2020 initial public offering (\u201cIPO\u201d), alleging violations of both the Securities Act of 1933 and, separately, the Securities Exchange Act of 1934. If you purchased ContextLogic securities between December 16, 2020 and May 12, 2021 (the \u201cClass Period\u201d), and have suffered a loss, you are encouraged to contact Jonathan Zimmerman for additional information at (888) &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-scottscott-attorneys-at-law-llp-reminds-investors-of-securities-class-action-against-contextlogic-inc-nasdaq-wish\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against ContextLogic, Inc. (NASDAQ: WISH)&#8221;<\/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-508317","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against ContextLogic, Inc. 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(NASDAQ: WISH) NEW YORK&#8211;(BUSINESS WIRE)&#8211;Scott+Scott Attorneys at Law LLP (\u201cScott+Scott\u201d), an international shareholder and consumer rights litigation firm, reminds investors of a securities class action lawsuit against ContextLogic, Inc. (NASDAQ: WISH) (\u201cContextLogic\u201d or the \u201cCompany\u201d) and certain of its officers and directors, and the underwriters of the Company\u2019s December 2020 initial public offering (\u201cIPO\u201d), alleging violations of both the Securities Act of 1933 and, separately, the Securities Exchange Act of 1934. If you purchased ContextLogic securities between December 16, 2020 and May 12, 2021 (the \u201cClass Period\u201d), and have suffered a loss, you are encouraged to contact Jonathan Zimmerman for additional information at (888) &hellip; Continue reading &quot;INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against ContextLogic, Inc. 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