INVESTOR ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Snap, Inc. & Encourages Inv...
January 14 2019 - 11:39AM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against Snap,
Inc. (“Snap” or “the Company”) (NYSE: SNAP) for violations of
§§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule
10b-5 promulgated thereunder by the U.S. Securities and Exchange
Commission.
Investors who purchased the Company’s shares pursuant to and/or
traceable to Snap’s Initial Public Offering (“IPO”) on or about
March 2, 2017, or on the open market between March 2, 2017, and May
15, 2017, are encouraged to contact the firm before January 31,
2019.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Company made false and
misleading statements to the market. Snap’s user growth as reported
by the company to the market was false and materially misleading.
In fact, the Company faced a lawsuit from a former employee that
alleged 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.”
Based on these facts, the Company’s statements were false and
materially misleading throughout the IPO and class period. When the
market learned the truth about Snap, investors suffered
damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005626/en/
The Schall Law FirmBrian Schall, Esq.Sherin Mahdavian,
Esq.www.schallfirm.comOffice: 310-301-3335Cell:
424-303-1964info@schallfirm.com
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