Kaskela Law LLC Announces Important Deadline in Class Action Lawsuit Against Snap, Inc. & Encourages Investors with Losses in...
January 11 2019 - 5:29PM
Business Wire
Kaskela Law 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 acquired the Company’s common
stock on or between March 2, 2017 and May 15, 2017 (the
“Class Period”).
To learn how to participate in this action please visit
http://kaskelalaw.com/case/snap-inc/.
Investors who purchased the Company’s common stock during the
Class Period and suffered a financial loss in excess of $100,000
are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.)
at (888) 715 – 1740 for additional information about this action
and to discuss their legal rights and options.
The class action complaint alleges that Snap and certain other
defendants made materially false and misleading statements to
investors about the Company’s business, operations, and reported
user growth.
On May 10, 2017, Snap issued its first quarterly financial and
operational report as a public company, and therein disclosed
disappointing user growth at the Company’s Snapchat messaging
platform to investors. Following this news, shares of Snap’s
common stock fell $4.93 per share, or nearly 21.5% in value, to
close on May 11, 2017 at $18.05.
Subsequently, on May 16, 2017, Bloomberg reported that a former
Snap employee, Anthony Pompliano, had 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.”
IMPORTANT DEADLINE: Investors who purchased Snap’s common
stock during the Class Period may, no
later than January 31, 2019, seek to be appointed as a
lead plaintiff representative of the class.
Investors who purchased the Company’s common stock during the
Class Period and suffered a financial loss in excess of $100,000
are encouraged to contact Kaskela Law LLC to receive additional
information about this action and to discuss their legal rights and
options. Kaskela Law LLC exclusively represents investors in state
and federal actions throughout the country. For additional
information about Kaskela Law LLC please visit
www.kaskelalaw.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190111005487/en/
D. Seamus Kaskela, Esq.KASKELA LAW LLC201 King of Prussia
RoadSuite 650Radnor, PA 19087(484) 258 – 1585(888) 715 –
1740www.kaskelalaw.comskaskela@kaskelalaw.com
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