Snap Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Snap Inc |
Stock Symbol : | NYSE: SNAP |
Class Period Start: | 03/02/2017 |
Class Period End: | 05/15/2017 |
Lead Plaintiff motion: | 07/17/2017 |
Date Filed: | 05/16/2017 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Central District of California |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the July 17, 2017 lead plaintiff deadline in a class action lawsuit filed against Snap Inc (NYSE: SNAP) (“Snap” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased Snap Inc securities between March 2, 2017 and May 15, 2017, have until July 17, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Snap Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Snap’s reported user growth was materially false and misleading; and as a result, Snap’s public statements were materially false and misleading at all relevant times. On May 10, 2017, the Company revealed disappointing user growth in its first quarterly report. For the quarter, Snap reported 166 million daily users, only 8 million more than the previous period and only 44 million more than the same period in the prior year. Following this news, NYSE: SNAP dropped $4.93 per share or over 21% to close at $18.05 per share on May 11, 2017. On May 16, 2017, Bloomberg revealed 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." Following this news, NYSE: SNAP dropped $0.02 per share, or 0.1%, to close at $20.72 on May 16, 2017. If you were negatively impacted by your investment in Snap Inc securities between March 2, 2017 and May 15, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |