Business

ContextLogic Inc. (NASDAQ: WISH) Engages an Executive Search Firm to Identify a New CFO

Having an affordable and entertaining shopping experience is the best thing, which could happen to every consumer around the globe. This means devising innovative technologies and platforms. ContextLogic Inc. (NASDAQ: WISH) is excited to bring this desire to reality to over half a million merchants globally. Thanks to Wish, one of the world’s largest mobile eCommerce platforms. 

Wish combines technology and data science capabilities, and users get to experience a highly visual, entertaining, and personalized shopping experience. It is both a fun and affordable mobile marketplace for millions of underserved, according to the outgoing of ContextLogic Inc. Chief Financial Officer Rajat Bahri. 

The Engagement of a New Finance Leadership Team 

“…As Wish enters the next stage of its growth, we will continue to build out a world-class senior leadership team to guide the company forward,” Wish’s Executive Chair, Jackie Reses, announced. The building of this team will begin by identifying Bahri’s successor. Bahri has resigned from his position effective July 23. The company already has Brett Just and Jennifer Oliver serving as interim co-CFOs as Heidrick, and an executive search firm seeks Bahri’s replacement. Meanwhile, Mr. Just will tentatively take on the role of Chief Accounting Officer. 

Bahri had served ContextLogic Inc. for four years, where he scaled the company globally and driving revenue growth. Nonetheless, he has now accepted a new position, but it is also worth noting that his exit is not related to disagreement with the company. 

Pomerantz LLP Files a Class Action Lawsuit Against ContextLogic Inc.

The Pomerantz Firm is one of the leading firms in corporate, securities, and antitrust class litigation. And the reason it has taken up the matter on behalf of all persons and entities who acquired ContextLogic securities after a public offering conducted around December 16, 2020, and between December 16, 2020, and May 12, 2021. 

The class-action lawsuit was filed in the US District Court for the Northern District of California, San Francisco Division. There was negligence in the preparations of Offering Documents according to the complaint with untrue statements. Nonetheless, it is just a matter of time before the truth comes out. 

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