FINAL SNAP INVESTOR DEADLINE ALERT: Kaskela Law LLC Announces Important January 31, 2019 Deadline in Class Action Lawsuit Filed Against Snap, Inc. and Encourages Investors with Losses in Excess of $250,000 to Contact the Firm – SNAP
RADNOR, Pa., Jan. 29, 2019 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against Snap, Inc. (“Snap” or the “Company”) (NYSE: SNAP) on behalf of investors who purchased shares of the Company’s stock between March 2, 2017 and August 10, 2017 (the “Class Period”).
Snap investors who suffered a financial loss in excess of $250,000 as a result of their Class Period stock purchases are encouraged to immediately contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or online at http://kaskelalaw.com/case/snap-inc/, to discuss their important legal rights and options and/or to learn how to participate in this action.
On or around March 2, 2017, Snap commenced its initial public offering (“IPO”) of common stock, selling over 200 million shares of stock to investors at $17.00 per share. Following the IPO, shares of Snap’s stock increased in value to over $29.00 per share. However, beginning in May 2017, the Company slowly disclosed to investors, among other things, disappointing financial and operational metrics, including disappointing user growth at the Company’s Snapchat messaging platform. Following these disclosures, shares of the Company’s stock significantly declined in value, causing financial harm to the Company’s investors.
The class action complaint alleges that Snap and certain other defendants made materially false and misleading statements to investors during the Class Period about the Company’s business, operations, and user growth and engagement. The complaint further alleges that, as a result of the foregoing, investors purchased Snap’s shares at artificially inflated prices during the Class Period and suffered financial damages as a result of defendants’ actions.
IMPORTANT DEADLINE: Investors who purchased Snap’s stock during the Class Period may, no later than January 31, 2019, seek to be appointed as a lead plaintiff representative of the class through Kaskela Law LLC, or other counsel, or may choose to do nothing and remain an absent class member.
Snap investors are encouraged to immediately contact Kaskela Law LLC for additional information about this action and/or to discuss their legal rights and options. Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.