Arons & Arons, LLC Announces the Filing of a Securities Class Action Against Snap Inc. & Important Deadline; Encourages Inves...
May 18 2017 - 10:25AM
Business Wire
Arons & Arons, 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 otherwise acquired Snap
securities between March 2, 2017 and May 15, 2017, inclusive (the
“Class Period”). Snap investors have 60 days from May 16, 2017 to
seek to be appointed a lead plaintiff representative of the
class.
Investors who purchased Snap securities during the Class Period
are encouraged to contact Jeffrey S. Arons, Esquire at (973)
762-0795 or at info@aronslaw.net. For additional information please
visit https://www.aronslaw.net/snap-inc
On May 10, 2017, Snap issued its first quarterly report as a
public company and disclosed disappointing user growth at the
Company’s Snapchat messaging platform. For the quarter, Snap
reported 166 million daily users, only 8 million more than in the
previous period and only 44 million more than the same period in
the prior year – Snapchat’s slowest year-to-year growth rate in at
least two years. On this news, Snap’s share price fell $4.93, or
over 21%, to close at $18.05 on May 11, 2017.
Subsequently, on May 16, 2017, Bloomberg reported that a former
Snap employee 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.”
Arons & Arons, LLC provides representation
for investors who have been victimized by securities fraud.
Our attorneys understand the financial and emotional trauma that
securities fraud can cause, and we are relentless in our efforts to
hold corporate wrongdoers accountable and obtain compensation for
our clients. For over 30 years our attorneys have provided
personal, accessible, and effective legal representation for our
clients. For additional information about Arons & Arons, LLC
please visit https://www.aronslaw.net/securities-fraud.
This press release may be considered Attorney Advertising in
some jurisdictions under applicable laws and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20170518005815/en/
Arons & Arons, LLC.Jeffrey S. Arons, Esq., 973-762-079576
South Orange AvenueSuite 100South Orange, NJ
07079info@aronslaw.net
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