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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Snap Inc. Investors (SNAP)

January 23, 2019

LOS ANGELES--(BUSINESS WIRE)--Jan 23, 2019--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, 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”).

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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 allegedly made false and/or misleading statements and/or 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.

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If you purchased shares of Snap during the Class Period you may move the Court no later than  January 31, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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/20190123005266/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 01/23/2019 11:00 AM/DISC: 01/23/2019 11:01 AM

http://www.businesswire.com/news/home/20190123005266/en

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