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Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Snap Inc. Investors (SNAP)

January 24, 2019

BENSALEM, Pa.--(BUSINESS WIRE)--Jan 23, 2019--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that acquired Snap Inc. (“Snap” or the “Company”) (NYSE: SNAP ) securities (1) pursuant and/or traceable to Snap’s Registration Statement and Prospectus, issued in connection with the Company’s initial public offering on or about March 2, 2017 (the “IPO” or the “Offering”); and/or (2) on the open market between March 2, 2017 and August 10, 2017, both dates inclusive (the “Class Period”). Investors with losses exceeding $100,000 are encouraged to contact the firm.

On or around March 3, 2017, Snap completed its IPO, issuing 200,000,000 shares and raising net proceeds of approximately $3.91 billion.

The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding its business, operational and compliance policies. Specifically, Defendants failed to disclose that: (1) Snap’s reported user growth was materially false and misleading; and (2) consequently, Snap’s public statements were materially false and misleading at all relevant times.

If you purchased shares of Snap, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005903/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2019.

PUB: 01/23/2019 09:21 PM/DISC: 01/23/2019 09:21 PM

http://www.businesswire.com/news/home/20190123005903/en

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