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Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 13, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises ContextLogic, Inc. ("ContextLogic" or the "Company") (NASDAQ: WISH) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: firstname.lastname@example.org, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether ContextLogic issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On May 12, 2021, ContextLogic reported a first-quarter loss of $128 million, based on $772 million of sales. ContextLogic suffered from a loss in the quarter that was almost double on a year-over-year basis. The prior year’s first-quarter loss of $66 million came on $440 million in sales. Based on this news, shares of ContextLogic dropped in after-hours trading and traded down more than 25% in intraday trading on May 13, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.