On or around 11/23/2020 (Date of last review)
Filing Date: November 23, 2020
According to the Complaint, Pinterest is a Delaware corporation headquartered in San Francisco, California. The Company is an image sharing and social media service comprised of small images or “pins” for finding ideas like recipes, home décor and style inspiration.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and financial health. Specifically, Defendants made false and/or misleading statements and failed to disclose to investors that: (i) the Company’s addressable market in the U.S. was reaching its maximum capacity; (ii) which significantly decelerated Pinterest’s future ability to monetize on U.S. average revenue per user; (iii) Pinterest was at an increased risk of losing advertising revenue; (iv) and as a result, Defendants’ public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
Company & Securities Information
Defendant: Pinterest, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: PINS
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Paul Hessong, et al. v. Pinterest, Inc., et al.
COURT: N.D. California
DOCKET #: 20-CV-08243
JUDGE: Hon. William H. Orrick
DATE FILED: 11/23/2020
CLASS PERIOD START: 05/16/2019
CLASS PERIOD END: 11/01/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Block & Leviton LLP (San Francisco)
Lowey Dannenberg, P.C.
First Identified Complaint (FIC) Filings:
Class Action Complaint
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available