WISH Shareholder News: Johnson Fistel Encourages ContextLogic Shareholders with Losses to Contact the Firm Regarding Investigation

SAN DIEGO, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether ContextLogic, Inc. ("ContextLogic" or the "Company") (NASDAQ: WISH), any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.

What if I purchased ContextLogic common stock? If you purchased common stock in the company and suffered significant losses on your investment, join our investigation now:


Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471

There is no cost or obligation to you.

What is Johnson Fistel investigating? 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.

What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.

Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations

Frank Johnson, 619-309-4405