Ecommerce site Wish and several individual defendants were hit with a shareholder derivative action Friday in California Northern District Court. The suit, filed by the Brown Law Firm, alleges that company's pre-IPO filings gave a misleading picture of user growth and failed to disclose logistical challenges that were negatively impacting customers. Counsel have not yet appeared for the defendants. The case is 3:21-cv-06281, Patel v. ContextLogic, Inc. et al.
Internet & Social Media
August 14, 2021, 10:10 AM