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Case Status:    ONGOING    
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 INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PINS
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
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:
  1. Block & Leviton LLP (San Francisco)
  2. Lowey Dannenberg, P.C.
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available