NEW ORLEANS, Jan. 25, 2019
/PRNewswire/ -- ClaimsFiler, a FREE shareholder information
service, reminds investors that they have until January 31, 2019 to file lead plaintiff
applications in a securities class action lawsuit against Snap Inc.
(NYSE: SNAP), if they purchased the Company's shares between
March 2, 2017, and August 10, 2017, inclusive (the "Class Period")
or traceable to its March 2, 2017
Initial Public Offering. This action is pending in
the United States District Court
for the Central District of California.
Get Help
Snap investors should visit us at
https://www.claimsfiler.com/cases/view.php?s2=nyse-snap or call
toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti,
LLC are available to discuss your legal options.
About the Lawsuit
Snap and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
On August 10, 2017, Snap disclosed
disappointing Q2 results including ongoing lower-than-expected
growth in daily active users ("DAU"), a key user engagement metric.
During the earnings conference call, the Company admitted to using
"growth hacking" or sending push notifications to users to stoke
their access levels, and hence boost user metrics.
On this news, the price of Snap's shares plummeted $1.94 per share, or approximately 14%.
The case is In Re Snap Inc. Securities Litigation, No.
2:17-cv-03679.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information
source to help retail investors recover their share of billions of
dollars from securities class action settlements. At
ClaimsFiler.com, investors can: (1) register for free to gain
access to information and settlement websites for various
securities class action cases so they can timely submit their own
claims; (2) upload their portfolio transactional data to be
notified about relevant securities cases in which they may have a
financial interest; and (3) submit inquiries to the Kahn Swick
& Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com.
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