Recent Security Class Actions

On December 16, 2020, ContextLogic priced its Initial Public Offering ("IPO") at $24 per share and filed its final Prospectus with the SEC, which formed part of the Registration Statement, pursuant to which ContextLogic sold 46 million shares of common stock to the public.

The Complaint alleges that in the Registration Statement and Prospectus used to conduct the IPO and throughout the Class Period, Defendants made materially false and misleading statements about the strength of ContextLogic’s business operations and financial prospects by overstating its then-present monthly active users (“MAUs”) and MAU growth trends.