NEW YORK, May 21, May 21, 2019 (GLOBE NEWSWIRE via COMTEX) --
NEW YORK, May 21, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Pinterest, Inc. ("Pinterest" or the "Company")
. Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org
or 888-476-6529, ext. 9980.
The investigation concerns whether Pinterest and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
In April 2019, Pinterest completed its initial public offering, selling 75 million shares of common stock priced at $19.00 per share. Then, on May 16, 2019, Pinterest reported its financial and operating results for the first quarter of 2019. Pinterest reported a loss per share of $0.33 on revenue of $201.9 million, compared to analyst expectations of a loss of $0.11 per share on revenue of $200.7 million.
On this news, Pinterest's stock price fell $4.16 per share, or 13.48%, to close at $26.70 per share on May 17, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:Robert S. Willoughby
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