On June 15, 2026, Labaton Keller Sucharow was appointed Lead Counsel in a securities class action against Pinterest, Inc. (Pinterest or the Company) and certain of its executives (collectively, Defendants).

Pinterest is a social media platform where users browse, save, and share ideas for topics including home decorating, recipes, and fashion, which they organize into personalized “boards.”  Pinterest generates most of its revenue from banner ads displayed on its app or website, often from companies that sell goods that are sensitive to tariffs, which can impact marketing budgets and spending on Pinterest ads.  The case alleges that Pinterest misled investors by claiming it was successfully navigating macroeconomic headwinds, including higher U.S. tariffs, when in reality its revenue growth was slowing as Pinterest customers facing tighter margins cut back on ad spending. 

Investors learned the truth through a series of three disclosures. On November 4, 2025, Pinterest cut holiday guidance and flagged weaker ad spend from tariff-pressured retailers, sending its stock down 21.8%.  On January 27, 2026, the Company announced a restructuring with layoffs and $35–$45 million in charges, on which the stock fell 9.6%.  Finally, on February 12, 2026, Pinterest reported weak revenue and financial guidance, causing the stock to drop 16.8%.  As a result, investors incurred an estimated $4.4 billion in total damages.

The case is In re Pinterest, Inc. Securities Litigation, No. 26-cv-02745 (N.D. Cal.).  Labaton Keller Sucharow represents Co-Lead Plaintiffs Bay Area Painters & Tapers Pension Trust Fund, Local 705 International Brotherhood of Teamsters Pension Fund, and Northern California Glaziers, Architectural Metal and Glassworkers Pension Plan.