PHILADELPHIA and CLEVELAND, July 6, 2021 /PRNewswire/ — The investor rights attorneys at Rosca Scarlato LLC law firm (“RS”) are evaluating potential claims for compensation on behalf of investors who purchased in ContextLogic Inc. (Nasdaq: WISH) shares in its initial public offering (“IPO”) and suffered losses. The RS attorneys’ plan to seek compensation for WISH investors individually, rather than in a class action. Each investor’s situation must be individually evaluated before representation is offered. Institutional investors and family offices may consider individual representation.
ContextLogic dba WISH is a e-vapor company founded in 2010 and headquartered in San Francisco. In December 202o, the company published a Prospectus offering 46,000,000 shares approved for listing on Nasdaq at $24 per share.
In March 2021, ContextLogic dba Wish announced its results for the period ended December 31, 2020, disclosing that the number of Wish monthly active users declined 10% year-over-year. The announcement caused a price decline, closing at $15.94 on March 8, 2021. The price was further affected in May 2021 when Wish reported lower expected financial results compared to the first quarter. The news brought the price per share down to a $8.11 on May 13, 2021.
WISH Investors May Be Able to Pursue Individual Claims
Investor rights attorneys Alan Rosca and Paul Scarlato have been investigating certain alleged misrepresentations and omissions by ContextLogic dba Wish in connection with its IPO and are preparing to take action on behalf of some of the WISH investors and seek compensation for their losses, separately from any pending class action. Investors in Wish interested in filing individual claims may contact attorneys Rosca or Scarlato for a free, no-obligation evaluation of their options at 888-998-0530, arosca@rscounsel.law or by leaving a message on ContextLogic dba Wish Investor Center.
The RS investor rights attorneys have decades of combined experience representing investors who lost money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs. There are no fees or costs if no recovery.
Visit https://investorlawyers.org for more information about the firm and RS attorneys’ background and admissions to practice law. This release may be deemed to include Attorney Advertising. There has been no finding of liability as to the allegations herein. © RS 2021.
SOURCE PRNewswire
