NEW YORK, Jan. 11, 2019 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, reminds investors in Snap, Inc. ("Snap" or the "Company")(NYSE:SNAP) of the
January 31, 2019 deadline to seek the role of lead plaintiff in a federal securities class action
that has been filed against the Company.
If you invested in Snap stock or options between March 2, 2017 and August 10, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/SNAP. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or
at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Central District of California
on behalf of all those who purchased Snap common stock between March 2, 2017 and August 10, 2017 (the "Class Period") and/or traceable to the Company's March 2017
initial public offering. The consolidated complaint in the case, In re Snap, Inc. Securities Litigation, No. 17-cv-03679,
was filed on November 1, 2017, and is currently before United States District Judge Stephen V. Wilson.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by, among other things: 1)
concealing material information regarding the true nature and extent of how competing platforms, particularly Instagram, impacted
Snap's core-business and user growth; 2) failing to disclose a lawsuit brought against the Company filed by its former employee,
Anthony Pompliano; and 3) misrepresenting the Company's use of "growth hacking" to artificially
inflate its daily active user numbers.
As the truth gradually emerged, the price of Snap's common stock fell causing harm to investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who
is sufficiently adequate and typical of class members to represent the putative class, and who directs and oversees the
litigation on their behalf. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not
affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Snap's conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome
with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated
in a confidential manner.
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SOURCE Faruqi & Faruqi, LLP