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Pinterest Investors Get Lead Plaintiff in Market, Ad Issues Suit

Feb. 26, 2021, 8:16 PM

Pinterest Inc. investors who accused the company of misleading them about market and advertising problems secured a lead plaintiff for their would-be class suit in federal court in California.

The investors claimed that the social sharing platform didn’t tell them it was close to reaching U.S. market capacity in 2019, which could lead to a decrease in ad revenue. Individual investor Paul Hessong will take the lead in shepherding the case to a conclusion, the U.S. District Court for the Northern District of California said.

Hessong filed the initial complaint and didn’t face any competition for the lead plaintiff ...