Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that acquired Snap Inc. (Snap or the Company) (NYSE: SNAP) securities (1) pursuant and/or traceable to Snaps Registration Statement and Prospectus, issued in connection with the Companys initial public offering on or about March 2, 2017 (the IPO or the Offering); and/or (2) on the open market between March 2, 2017 and August 10, 2017, both dates inclusive (the Class Period). Investors with losses exceeding $100,000 are encouraged to contact the firm.
On or around March 3, 2017, Snap completed its IPO, issuing 200,000,000 shares and raising net proceeds of approximately $3.91 billion.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding its business, operational and compliance policies. Specifically, Defendants failed to disclose that: (1) Snaps reported user growth was materially false and misleading; and (2) consequently, Snaps public statements were materially false and misleading at all relevant times.
If you purchased shares of Snap, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.