San Diego, CA -- (SBWire) -- 12/10/2020 --An investor, who purchased shares of Pinterest, Inc. (NYSE: PINS), filed a lawsuit against Pinterest, Inc. over alleged violations of Federal Securities Laws.
Investors who purchased shares of Pinterest, Inc. (NYSE: PINS) have certain options and for certain investors are short and strict deadlines running. Deadline: January 22, 2021. NYSE: PINS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Pinterest, Inc. readily admits that its financial and operational well-being critically depends on its ability to grow its base of monthly active users. Pinterest measures the monetization of its platform through Average Revenue per User ("ARPU").
On October 31, 2019, Pinterest, Inc. announced its financial results for the quarter ended September 30, 2019. Pinterest, Inc. reported disappointing financial results, including 8% growth in the U.S. MAUs year over year, reaching 87 million, only 8 million more than the same period of the previous year. Pinterest, Inc. also missed its consensus projections and reported lower than expected U.S. advertising revenue. Pinterest, Inc. only marginally increased its full year 2019 guidance, implying further deceleration in the future quarters.
Shares of Pinterest, Inc. (NYSE: PINS) declined from $36.83 per share in August 2019 to as low as $19.04 per share in December 2019.
The plaintiff claims that between May 16, 2019 and November 1, 2019, Pinterest made false and misleading statements to the public and failed to disclose that the Company's addressable market in the U.S. was reaching its maximum capacity, that which significantly decelerated Pinterest's future ability to monetize on U.S. average revenue per user, that Pinterest was at an increased risk of losing advertising revenue, and that as a result, Defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
Those who purchased shares of Pinterest, Inc. (NYSE: PINS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:PINS Investor Notice: Lawsuit Alleges Misleading Statements by Pinterest, Inc
A lawsuit was filed on behalf of investors in Pinterest, Inc. (NYSE:PINS) shares over alleged securities laws violations.