SNAP, INC. INVESTOR ALERT: Gibbs Law Group Investigates Potential Securities Law Violations
OAKLAND, Calif.--(BUSINESS WIRE)--Jan 15, 2019--Gibbs Law Group is investigating claims on behalf of investors of Snap, Inc. (NYSE: SNAP) involving possible securities law violations. Specifically, our investigation focuses on allegations that Snap and certain of its officers and/or directors may have engaged in unlawful business practices or securities fraud.
On January 15, 2019, SNAP announced that its Chief Financial Officer, Tim Stone, would resign to “pursue other opportunities” after less than a year in that role. The Wall Street Journal published an article on Stone’s departure, noting that it was the latest in a string of high-profile executive departures from Snap in recent months, and that in choosing to resign after such a short time with the company, Stone was leaving behind “a hefty share of his $20 million signing bonus.” The Wall Street Journal article also quoted Peter Crist, chairman of executive-search firm Crist|Kolder Associates, who stated “‘For a talented CFO to leave after only eight months suggests he or she was surprised with what they found.’”
Following the news of CFO Stone’s departure, shares of SNAP dropped by nearly 8% in after-hours trading on January 15, 2019.
If you purchased or acquired shares of Snap, Inc. and would like to speak privately with a securities attorney to learn more about our investigation and your legal rights, visit our website or contact our securities team directly at (800) 808-5294.
Gibbs Law Group represents individual and institutional investors in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190115006005/en/
CONTACT: EILEEN EPSTEIN
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Gibbs Law Group
Copyright Business Wire 2019.
PUB: 01/15/2019 09:29 PM/DISC: 01/15/2019 09:29 PM