PINS Investor Alert: Pinterest Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After CEO CFO Allegedly Misled Investors: Levi & Korsinsky
Important Information Regarding Section 20(a) Individual Liability Claims
NEW YORK, May 13, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in Pinterest, Inc. (NYSE: PINS) of a pending securities class action naming CEO William Ready and CFO Julia Brau Donnelly as individual defendants under Section 20(a) of the Securities Exchange Act of 1934.
Class Period: February 7, 2025 through February 12, 2026
Find out if you qualify to recover losses from the PINS class action or contact Joseph E. Levi, Esq. at [email protected] | (212) 363-7500.
Pinterest shares lost a cumulative $12.77 per share across three corrective disclosures, closing at $15.42 on February 13, 2026. The Court has set May 29, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
William Ready has served as Pinterest's Chief Executive Officer at all relevant times during the Class Period. Julia Brau Donnelly has served as Chief Financial Officer at all relevant times. Both officers possessed the power and authority to control the contents of Pinterest's SEC filings, press releases, and earnings call statements, the pleading asserts.
As the two most senior executives at Pinterest, Ready and Donnelly allegedly had direct access to material nonpublic information about the deteriorating advertising revenue environment and the growing impact of tariff-related margin pressure on the Company's largest retail and CPG advertising partners.
Section 20(a) Control Person Framework
Section 20(a) of the Exchange Act imposes liability on individuals who act as "controlling persons" of a company that violates Section 10(b). As averred in the complaint, both Ready and Donnelly:
- Signed Pinterest's annual report on Form 10-K for fiscal year 2024, filed February 6, 2025
- Signed quarterly reports on Form 10-Q for Q1 2025 (May 8, 2025) and Q2 2025 (August 7, 2025)
- Made public statements on earnings calls and at investor conferences characterizing Pinterest's business as "resilient" and "more resilient than ever"
- Had the ability and opportunity to prevent the issuance of allegedly misleading statements or to cause them to be corrected
- Were provided with copies of SEC filings and press releases prior to or shortly after issuance
Sarbanes-Oxley Certification Obligations
Under Sections 302 and 906 of the Sarbanes-Oxley Act, both Ready and Donnelly were required to personally certify the accuracy and completeness of Pinterest's periodic SEC filings. These certifications carry personal liability and attest that the filings do not contain untrue statements of material fact or omit material facts necessary to make the statements not misleading. The complaint charges that defendants knew or should have known that Pinterest's advertising revenue outlook was materially threatened by tariff-related pressures affecting its largest customers.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives certify SEC filings under Sarbanes-Oxley, they accept personal responsibility for the information shareholders rely upon to make investment decisions." -- Joseph E. Levi, Esq.
Speak with an attorney about recovering your Pinterest investment losses or call (212) 363-7500.
Scienter Allegations
The action contends that both individual defendants had direct knowledge of the adverse trends affecting Pinterest's core advertising business. Ready personally appeared at the Morgan Stanley conference in March 2025 and the Goldman Sachs conference in September 2025, making statements about Pinterest's ability to succeed "regardless of environment." Donnelly communicated directly with advertising partners about their spend expectations and provided quarterly revenue guidance based on those conversations, as set forth in the complaint.
ABOUT LEVI & KORSINSKY, LLP -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.
Frequently Asked Questions About the PINS Lawsuit
Q: Who are the defendants named in the PINS lawsuit? A: The complaint names Pinterest, Inc. and individual defendants including CEO William Ready and CFO Julia Brau Donnelly, who signed SEC filings and made public statements during the Class Period.
Q: What is the PINS lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is May 29, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my PINS shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: Can I join a different law firm's lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before May 29, 2026 ensures your losses are considered.
Q: Has Levi & Korsinsky handled similar cases before? A: Yes, including securities class actions involving revenue inflation, earnings guidance fraud, and executive misconduct across numerous industries.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP
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