A lawsuit was filed on behalf of investors in Snap Inc. (NYSE:SNAP) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/02/2021 -- An investor, who purchased shares of Snap Inc. (NYSE: SNAP), filed a lawsuit over alleged violations of Federal Securities Laws by Snap Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Snap Inc. (NYSE: SNAP) have certain options and for certain investors are short and strict deadlines running. Deadline: January 10, 2022. NYSE: SNAP investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Santa Monica, CA based Snap Inc. operates as a camera company in the United States and internationally.
On October 21, 2021, Snap Inc. reported its third-quarter 2021 earnings, which missed revenue expectations. Snap cited Apple's iPhone privacy changes as the source of disruptions to the Company's advertising business and warned that global supply chain interruptions and labor shortages had reduced the "short-term appetite to generate additional customer demand through advertising."
Shares of Snap Inc. (NYSE: SNAP) declined from $79.30 per share on October 18, 2021, to as low as $51.47 per share on November 3, 2021.
The plaintiff claims that between July 22, 2020 and October 21, 2021, the defendants made false and/or misleading statements and/or failed to disclose that Apple's privacy changes would have, and were having, a material impact on the Company's advertising business, that Snap overstated its ability to transition its advertising with Apple's privacy changes, that Snap knew of, but downplayed, the risks of the impact that Apple's privacy changes had on the Company's advertising business, that Snap overstated its commitment to privacy, and that as a result of the foregoing, defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times.
Those who purchased shares of Snap Inc. (NYSE: SNAP) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.