RADNOR, PA / ACCESSWIRE / January 27, 2019 / The law firm of Kessler Topaz Meltzer & Check, LLP was appointed
as Lead Counsel and its client, the Lead Plaintiff, by Court order dated September 17, 2017 in a securities fraud class action
lawsuit filed against Snap, Inc. (NYSE: SNAP) ("Snap") on behalf of purchasers of Snap securities. The class action, which asserts
claims on behalf of investors who purchased Snap securities between March 2, 2017 and August 10, 2017, inclusive (the
"Class Period") including those who purchased Snap common stock traceable to the registration statement
and prospectus issued in connection with Snap's March 3, 2017 initial public offering ("IPO"), is pending in the
United States District Court for the Central District of California before the Honorable Judge Stephen V. Wilson and is captioned
In re Snap Inc. Securities Litigation, Case No. 17-cv-03679-SVW-AGR. Pursuant to Judge Wilson's Order
described further below, investors who purchased Snap securities during the Class Period may, no later than
January 31, 2019, seek to be appointed as a Lead Plaintiff representative of the class. For additional information, access
to the pleadings in the matter, or to learn how to participate in this litigation please visit: www.ktmc.com/snap-inc-securities-class-action.
Kessler Topaz has been actively prosecuting Snap investors' claims for more than one year in preparation for trial, previously
scheduled for March 2019. Kessler Topaz's efforts on behalf of the class have included, among other things:
- investigating and drafting a complaint that withstood Defendants' motions to dismiss;
- developing confidential witness testimony supporting the complaint;
- reviewing more than one million pages of documents produced during discovery from Defendants and third parties;
- defeating Defendants' efforts to seek interlocutory appellate review of the Court's opinion denying Defendants' motions to
dismiss and sustaining Plaintiffs' claims;
- retaining industry and damages experts and preparing for expert disclosures; and
- preparing for depositions and briefing a motion for class certification.
The allegations in Kessler Topaz's complaint, sustained by the Court, have spurred SEC and DOJ investigations into Snap's
representations to investors in its IPO documents. As a result of the current Lead Plaintiff's inability to continue to serve as a
Lead Plaintiff through trial, on January 10, 2019, Judge Wilson issued an Order reopening the Lead Plaintiff process and thus
allowing any investor who purchased Snap securities during the Class Period to seek appointment as a replacement
Lead Plaintiff.
Snap investors who wish to discuss this securities fraud class action lawsuit and their legal options are encouraged to contact
Kessler Topaz Meltzer & Check, LLP (James Maro, Jr., Esq. or Adrienne Bell, Esq.) at (888) 299-7706 or at info@ktmc.com.
Investors interested in seeking appointment as Lead Plaintiff may do so through Kessler Topaz Meltzer & Check, or other counsel,
or may choose to do nothing and remain an absent class member. A Lead Plaintiff is a representative party who acts on behalf of all
class members in directing the litigation. In order to be appointed as a Lead Plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your
ability to share in any recovery is not affected by the decision of whether or not to serve as a Lead Plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country involving securities
fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check is a driving force
behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from
the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report
fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler
Topaz Meltzer & Check, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706
info@ktmc.com
SOURCE: Kessler Topaz Meltzer & Check, LLP
