SHAREHOLDER ALERT: Goldberg Law PC Announces the Filing of a Securities Class Action Lawsuit against Snap Inc. and Encourages
Investors with Losses Exceeding $500,000 to Contact the Firm
Goldberg Law PC, 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 U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder, as well as §11 and §15 of the Securities Act of
1933.
Investors who purchased the Company’s shares (1) pursuant and/or traceable to Snap’s false and misleading Registration Statement
and Prospectus, issued in connection with its 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 inclusive (the “Class Period”), are encouraged to contact the firm before
July 17, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during Class Period, click here to participate .
In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite
1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also
reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at info@goldberglawpc.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.
The Complaint alleges that during the Class Period, Snap made materially false and misleading statements about its reported user
growth. On March 3, 2017, the Company completed its IPO, issuing 200 million shares of stock. On May 10, 2017, after the market
closed, Snap released its first earnings report as a public company. The report revealed disappointing user growth for the
Company’s messaging platform and a quarterly loss of $2.2 billion. The user growth was the slowest year-to-year user growth rate in
at least two years. Following this news, Snap’s stock price dropped 21.45%, which caused investors harm. On May 16, 2017, Anthony
Pompliano, a former Snap employee, filed a federal lawsuit against the Company for terminating his employment because he raised
questions about false growth metrics being represented to the public in order to inflate Snap’s valuation prior to the IPO. Mr.
Pompliano is also seeking whistleblower protection against retaliation by the Company.
Goldberg Law PC 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.
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170517005992r1&sid=mstr1&distro=nx&lang=en)
Goldberg Law PC, Los Angeles
Michael Goldberg, Esq., 800-977-7401
Brian Schall, Esq., 800-977-7401
Sohrab Izadi, Esq., 800-977-7401
Sherin Mahdavian, Esq., 800-977-7401
info@goldberglawpc.com
www.Goldberglawpc.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170517005992/en/