| COMPANY |
Pinterest, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
20-cv-08243 |
| JUDGE |
The Honorable William H. Orrick |
| CLASS PERIOD |
February 4, 2021 - April 27, 2021 |
| SECURITY TYPE |
All Securities |
.
Case Background:
The Class Period commences on February 4, 2021, when Pinterest announced its fourth quarter and full year 2020 financial results in a press release. Throughout the Class Period, the Defendants touted its user engagement and growth.
The complaint alleges that throughout the Class Period, the Defendants failed to disclose to investors that: (1) user growth was already slowing; (2) as a result, Pinterest expected user engagement to slow in the second quarter of 2021; and (3) as a result of the foregoing, the Defendants’ positive statements about Pinterest’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On September 23, 2021, the Court issued an Order granting Defendants’ Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.