IRVINE, CA / ACCESSWIRE / June 19, 2017 / Khang & Khang LLP (the "Firm") announces a securities class action lawsuit against Snap Inc. ("Snap" or the "Company") (NYSE: SNAP). Investors, who purchased or otherwise acquired shares (1) pursuant and/or traceable to Snap's initial public offering on or about March 2, 2017 (the "IPO"); and/or (2) on the open market between March 2, 2017 and May 15, 2017, are encouraged to contact the Firm in advance of the July 17, 2017 lead plaintiff motion deadline.
If you purchased Snap shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in 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 Complaint, during the Class Period, Snap made false and/or misleading statements about its reported user growth. On May 10, 2017, post-market, the Company issued its first quarterly report as a public company, disclosing disappointing user growth, being the slowest year-to-year growth rate in at least two years. Following this news, Snap's stock price dropped materially, which harmed investors according to the Complaint. On May 16, 2017, a report was published stating that former Snap employee, Anthony Pompliano, 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."
If you wish to learn more about this lawsuit, or if you have any questions regarding this notice or your rights, please contact Joon M. Khang, Esquire, a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP