San Diego, CA -- (SBWire) -- 12/05/2023 --Certain directors of ContextLogic Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of ContextLogic Inc. (NASDAQ: WISH) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain ContextLogic Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Francisco, CA based ContextLogic Inc. operates as a mobile ecommerce company in Europe, North America, South America, and internationally. On June 29, 2023, Loop Capital ("Loop") downgraded ContextLogic to "Sell" from "Hold", noting that ContextLogic has consistently missed consensus revenue estimates and concluding that the Company faces difficulty protecting its market share from larger rivals. Then on August 3, 2023, the Company reported second quarter 2023 financial results, revenues were $78 million a decrease of (-41.8% Y/Y) missing estimates by $16.25 million.
Shares of ContextLogic Inc. (NASDAQ: WISH) declined from $13.38 per share on April 03, 2023, to as low as $5.85 per share on August 07, 2023.
Those who purchased shares of ContextLogic Inc. (NASDAQ: WISH) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The 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.
NASDAQ: WISH Shareholder Alert: Investigation over Potential Wrongdoing at ContextLogic Inc.
An investigation on behalf of investors in ContextLogic Inc. (NASDAQ: WISH) shares over potential wrongdoing at ContextLogic Inc. was announced.