The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Snap Inc. (NYSE: SNAP) who purchased shares (1) pursuant and/or traceable to Snap’s Registration Statement and Prospectus, issued in connection with the Company’s 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”). The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) Snap’s reported user growth was materially false and misleading; and (2) consequently, Snap’s public statements were materially false and misleading at all relevant times.
Shareholders have until January 31, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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