Gross Law Firm Issues Notice to Snap Inc. Shareholders over Alleged Misleading Statements

Strategic Insights -

Shareholders of Snap Inc. (NYSE: SNAP) who purchased shares during a specific period are being encouraged to contact the Gross Law Firm regarding possible lead plaintiff appointment in a class action lawsuit. The case alleges that Snap's executives made misleading statements about the company's advertising revenue growth rate, leading to a decline in stock price after the truth was revealed. The Gross Law Firm, a nationally recognized class action law firm, is committed to protecting the rights of investors who have suffered as a result of deceit and illegal business practices.

Key Takeaways:

  • The Gross Law Firm is issuing a notice to Snap Inc. shareholders who purchased shares during the class period of April 29, 2025, to August 5, 2025.
  • The complaint alleges that Snap's executives made misleading statements about the company's advertising revenue growth rate, which declined from 9% in the first quarter to 1% in April.
  • The company attributed the slowdown in advertising revenue growth to an issue with its ad platform, the timing of Ramadan, and de minimis changes.
  • Following the announcement, Snap's stock price declined by 17.15% in a single day from $9.39 to $7.78 per share.
  • The deadline to seek to be a lead plaintiff is October 20, 2025.
  • Shareholders who purchased shares during the specified period are encouraged to register their information to participate in the case.
  • The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship.

Statistics:

  • Shareholders who purchased Snap Inc. shares during the class period of April 29, 2025, to August 5, 2025, are eligible to participate in the lawsuit.
  • The decline in Snap's stock price on August 6, 2025, was 17.15% from $9.39 to $7.78 per share.
  • The deadline to seek to be a lead plaintiff is October 20, 2025.

Sources:

  • The Gross Law Firm
  • The New York Stock Exchange (NYSE: SNAP)