An investigation on behalf of investors of Pinterest, Inc. (NYSE: PINS) shares over potential securities laws violations by Pinterest, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Pinterest, Inc. (NYSE: PINS) concerning whether a series of statements by Pinterest, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based Pinterest, Inc. provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Pinterest, Inc. reported that its annual Total Revenue rose from $472.85 million in 2017 to $755.93 million in 2018 and that its Net Loss declined from $130.04 million in 2017 to $62.97 million in 2018.
Pinterest, Inc went public on April 18, 2019. Pinterest, Inc sold in its initial public offering (IPO) 75 million shares of common stock priced at $19.00 per share. Subsequently, shares of Pinterest, Inc. (NYSE: PINS) reached $34.41 per share on April 29, 2019 in the open market.

On May 16, 2019, Pinterest, Inc reported its financial and operating results for the first quarter of 2019. Pinterest, Inc reported a loss per share of $0.33 on revenue of $201.9 million, compared to analyst expectations of a loss of $0.11 per share on revenue of $200.7 million.