Kaskela Law LLC announces that a class action lawsuit has been filed against Snap, Inc. (Snap or the Company) (NYSE: SNAP) on behalf of investors who purchased or acquired the Companys common stock on or between March 2, 2017 and May 15, 2017 (the Class Period).
To learn how to participate in this action please visit http://kaskelalaw.com/case/snap-inc/.
Investors who purchased the Companys common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 “ 1740 for additional information about this action and to discuss their legal rights and options.
The class action complaint alleges that Snap and certain other defendants made materially false and misleading statements to investors about the Companys business, operations, and reported user growth.
On May 10, 2017, Snap issued its first quarterly financial and operational report as a public company, and therein disclosed disappointing user growth at the Companys Snapchat messaging platform to investors. Following this news, shares of Snaps common stock fell $4.93 per share, or nearly 21.5% in value, to close on May 11, 2017 at $18.05.
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Subsequently, on May 16, 2017, Bloomberg reported that a former Snap employee, Anthony Pompliano, had 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.
IMPORTANT DEADLINE: Investors who purchased Snaps common stock during the Class Period may, no later than January 31, 2019, seek to be appointed as a lead plaintiff representative of the class.
Investors who purchased the Companys common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to contact Kaskela Law LLC to receive additional information about this action and to discuss their legal rights and options. Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.