Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Wix.com Ltd. (WIX)
NEW YORK, July 28, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Wix.com Ltd. (“Wix” or the “Company”) (NASDAQ: WIX) securities between February 19, 2025 and May 12, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors that: (i) Wix had overstated the competitiveness and performance of its AI product offerings relative to those offered by other companies; (ii) Wix had understated the costs associated with developing and promoting its AI product offerings; (iii) accordingly, Defendants overstated the commercial and financial benefits of Wix’s AI product offerings; and (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
The Complaint alleges that the truth began to emerge on May 21, 2025, when Wix issued a press release reporting its financial results for the first quarter (“Q1”) of 2025. The Complaint continues to allege that although the Company reported a 12% year-over-year increase in bookings, Wix maintained its 2025 revenue guidance in the range of $1.97 billion to $2 billion, falling short of analyst expectations. The Complaint alleges that this conservative full-year (“FY”) guidance fueled investor and analyst concerns regarding Wix’s business and financial prospects and competition.
The Complaint alleges that on this news, Wix’s stock price fell $29.40 per share, or 16.18%, to close at $152.34 per share on May 21, 2025.
Investors who purchased or otherwise acquired shares of Wix should contact the Firm prior to the September 22, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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