IMPORTANT INVESTOR ALERT: JFJN LAW Announces Securities Class Action SNAP INC. – SNAP
May 19 2017 - 1:37PM
Business Wire
JFJN Law (the “firm) announces the filing of a class action
lawsuit against Snap Inc. (“SNAP” or the “Company”) (NYSE:SNAP).
Investors who purchased or otherwise acquired shares between
March 2, 2017 and May 15, 2017 inclusive (the “Class
Period”) are encouraged to contact the Firm in advance of the July
17, 2017 lead plaintiff motion deadline.
If you purchased shares in SNAP during the Class Period, please
contact Justin Frankel, Esq. or Jason Newfield, Esq., of JFJN Law,
1-888-459-0507 or click here before July 17, 2017.
There has not been a class certification of this case yet. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
According to the Class Action Complaint, SNAP made false and
misleading statements about its reported user growth. On March 3,
2017, SNAP completed its IPO. On May 10, 2017, Snap disclosed
disappointing user growth in its first quarterly report since its
IPO with a quarterly loss of $2.2 billion. The reported user growth
was the slowest year-to-year user growth rate in at least two
years. Because of this news, Snap’s stock price dropped over 21%,
or $4.93 per share. Subsequently, on May 16, 2017, a former
employee filed a lawsuit claiming he was fired for raising
questions about allegedly false growth metrics.
This press release may be considered Attorney Advertising in
some jurisdictions.
If you suffered a loss in Snap Inc. you have until July 17, 2017
to request that the Court appoint you as a lead plaintiff. Your
ability to share in any recovery does not require you serve as a
lead plaintiff.
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version on businesswire.com: http://www.businesswire.com/news/home/20170519005631/en/
JFJN LawJustin C. Frankel, Esq. or Jason Newfield, Esq.Toll-Free
Telephone: 1-888-459-0507Website: www.jfjnclassaction.com
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