Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
LOS ANGELES, July 14, 2017 -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Snap Inc. (“Snap” or the “Company”) (NYSE:SNAP) regarding possible violations of federal securities laws. Investors who purchased or otherwise acquired Snap shares (1) pursuant and/or traceable to the Company’s initial public offering (“IPO”) on or about March 2, 2017; and/or (2) on the open market from March 2, 2017 through June 6, 2017 inclusive (the “Class Period”), should contact the firm by the July 17, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at [email protected].
No class has been certified in the above action yet, and until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, during the Class Period, Snap made false and/or misleading statements, and/or failed to disclose, that the Company’s reported user growth was materially false and misleading. On May 10, 2017, Snap revealed its first quarterly report as a public company, disclosing disappointing user growth as well as a net loss of $2.2 billion. The user growth was the slowest year-to-year growth rate in at least two years. Following this news, Snap’s stock price fell materially, which caused investors harm. On May 16, 2017, Bloomberg reported that a former Snap employee, Anthony Pompliano, filed a lawsuit against the Company claiming that he was terminated for raising questions about the allegedly false growth metrics and that he was seeking whistleblower protection from retaliation by Snap.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Contact: Lundin Law PC Brian Lundin, Esq. Telephone: 888-713-1033 Facsimile: 888-713-1125 [email protected] http://lundinlawpc.com/
