Hessong

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 PAUL HESSONG, Case No. 20-cv-08243-WHO

Plaintiff,

ORDER GRANTING MOTION TO

v. DISMISS

PINTEREST, INC., et al., Re: Dkt. No. 32 Defendants.

Plaintiff Paul Hessong brings this class action case for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 against defendants Pinterest, Inc., Ben Silbermann (Pinterest’s co-founder, President and Chief Executive Officer (“CEO”)), and Todd Morgenfeld (Pinterest’s Chief Financial Officer and Head of Business Operations (“CFO”)). Hessong asserts that defendants made numerous materially false or misleading statements and failed to disclose material facts: (i) that Pinterest’s “addressable market in the U.S. was reaching its maximum capacity”; (ii) that the then current status of the business significantly “decelerated Pinterest’s future ability to monetize” on U.S. average revenue per user (“ARPU”); and (iii) that “Pinterest…