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IRVINE, Calif., July 05, 2017 -- Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against Snap Inc. (“Snap” or the “Company”) (NYSE:SNAP). Investors who purchased or otherwise acquired shares (1) pursuant and/or traceable to Snap’s initial public offering on or about March 2, 2017 (the “IPO”); and/or (2) on the open market between March 2, 2017 and May 15, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the July 17, 2017 lead plaintiff motion deadline.
If you purchased Snap shares during the IPO or Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the Complaint, during the Class Period, Snap made false and/or misleading statements about its reported user growth. On May 10, 2017, post-market, the Company issued its first quarterly report as a public company, revealing disappointing user growth, being the slowest year-to-year growth rate in at least two years. When this information reached the public, Snap’s stock price fell materially, which harmed investors according to the Complaint. On May 16, 2017, a report was published stating that former Snap employee, Anthony Pompliano, filed a lawsuit against Snap, “claim[ing] he was fired after three weeks on the job for raising questions about allegedly false growth metrics [and] seeking whistleblower protection against retaliation by [the] company.”
If you want to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, Esquire, a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in certain jurisdictions.
Contact Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
