The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ContextLogic Inc. (“ContextLogic” or “the Company”) (NASDAQ: WISH) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ContextLogic reported a first-quarter loss of $128 million based on sales of $772 million on May 12, 2021. The Company suffered from a loss in the quarter almost doubled on a year-over-year basis. The prior year’s first-quarter loss of $66 million came on $440 million in sales. Based on this news, shares of ContextLogic dropped in after-hours trading and traded down more than 25% in intraday trading on May 13, 2021.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005349/en/