공시 • Apr 01
Pomerantz LLP Announces the Filing of Class Action Against Pinterest, Inc. and Certain Officers
Pomerantz LLP announced that a class action lawsuit has been filed against Pinterest, Inc. and certain officers. The class action, filed in the United States District Court for the Northern District of California, and docketed under 26-cv-02745, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Pinterest securities between February 7, 2025 and February 12, 2026, both dates inclusive, seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. During the Class Period, Defendants consistently assured investors of their confidence in Pinterest’s ability to navigate uncertain or adverse macroeconomic environments, including one in which its advertising partners faced increased margin pressure from tariffs, based on its offerings across advertisers’ funnels, its past performance, and its status as a shopping destination for younger consumers. Among other things, Defendants consistently emphasized the purported durability and resilience of Pinterest’s business model, while reassuring investors that such practices had positioned Pinterest for long-term success (that is over a period of multiple quarters or years). The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Pinterest was experiencing and/or was likely to experience reduced revenues from its advertising partners; (ii) Pinterest overstated its ability to manage the impact of United States tariffs on the macroeconomic environment in which the Company operated, including the foreseeable impact on its advertising partners; (iii) the impact of the foregoing on Pinterest’s advertising Revenue was significant enough that Pinterest was facing and/or likely to face an imminent restructuring; and (iv) as a result, Defendants’ public statements were materially false and misleading at all times. The truth began to emerge on November 4, 2025, when Pinterest announced its financial results for the fiscal quarter ended September 30, 2025. Among other items, Pinterest announced Fourth Quarter revenue guidance with a midpoint of $1.325 billion, below consensus expectations of $1.34 billion. Pinterest advised that it “faced pockets of moderating ad spend as larger U.S. retailers navigate tariff-related margin pressure in the current environment”. On this news, Pinterest’s stock price fell $7.16 per share, or 21.76%, to close at $25.75 per share on November 5, 2025. Then, on January 27, 2026, Pinterest announced a “board-approved global restructuring plan that includes a reduction in force that is expected to affect less than 15% of the Company’s workforce as well as office space reductions.” Pinterest said that it “anticipates incurring total pre-tax restructuring charges of approximately $35 million to $45 million, which are expected to be primarily cash-related expenditures” and “is taking these actions to support its transformation initiatives, including but not limited to (i) reallocating resources to AI-focused roles and teams that drive AI adoption and execution, (ii) prioritizing AI powered products and capabilities, and (iii) accelerating the transformation of its sales and go-to-market approach.” On this news, Pinterest’s stock price fell $2.49 per share, or 9.61%, to close at $23.41 per share on January 27, 2026. Then, on February 12, 2026, Pinterest announced its financial results for the fiscal quarter and year ended December 31, 2025. Among other items, Pinterest announced quarterly revenue of $1.32 billion, below the consensus estimate of $1.33 billion, and provided First Quarter 2026 revenue guidance of $951 million to $971 million, below the consensus estimate of $980.6 million. On this news, Pinterest’s stock price fell $3.12 per share, or 16.83%, to close at $15.42 on February 13, 2026.