SNAP CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Snap Inc. – Lawyer Monthly

LOS ANGELES – (BUSINESS WIRE) – $ SNAP #classaction – Glancy Prongay & Murray LLP (“GPM”), announces that the United States District Court for the Central District of California has filed a class action lawsuit called Buscaglia et al. v. Snap Inc., et al., (Case No. 22-cv-175) on behalf of any person or entity that has purchased or otherwise acquired securities of Snap Inc. (“Snap” or the “Company”) (NYSE: SNAP) have and / or sold Snap-Put Options between July 22, 2020 and October 21, 2021 (inclusive) (the “Class Period”). Plaintiff is pursuing claims under Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Snap investors have until January 10, 2022 to file a lead plaintiff motion.

If you have suffered a loss on your Snap investment, or if you want to inquire about whether you might want to recover your loss under U.S. securities laws, you can find your contact information at www.glancylaw.com/cases/snap-inc/ to transfer. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, email partners@glancylaw.com, or visit our website at www.glancylaw.com to learn more about your rights.

On October 21, 2021, Snap reported weaker-than-expected third-quarter earnings due to Apple’s privacy update, revealing that the “changes have negatively impacted our targeting, measurement, and optimization capabilities and, in turn, impacted our ability to perform Effectiveness of. to measure advertising on our services. ”The company announced that demand for its advertising products, and therefore prices, has decreased, which could potentially cause serious damage to its business.

As a result of this news, Snap’s share price fell $ 19.97, or 26%, to close at $ 55.14 per share on October 22, 2021, hurting investors.

The complaint filed in this class action lawsuit alleges that during the collection period the defendants made materially false and / or misleading statements and disclosed material adverse facts about the company’s business, operations and prospects. In particular, defendants did not disclose to investors that: (1) Apple’s privacy changes would and will have a material impact on the company’s advertising business; (2) Snap has overrated its ability to adapt its advertising with Apple’s privacy changes; (3) Snap knew about the risks of the impact of Apple’s privacy changes on the company’s advertising business, but downplayed it; (4) Snap has overrated its commitment to privacy; and (5) as a result of the foregoing, Defendants’ public statements and statements to journalists at all relevant times were materially false and / or misleading.

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If you bought or otherwise acquired Snap securities and / or sold put options during the Class Action Period, you may request the court to appoint you as the lead plaintiff no later than January 10, 2022. You don’t need to do anything at this point to be a member of the class; You can hire a lawyer of your choice or do nothing and remain an absent member of the group. If you would like to learn more about this promotion, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, toll free at 888-773-9224, email at partners@glancylaw.com, or visit our website at www.glancylaw.com. For inquiries by e-mail, please include your postal address, telephone number and the number of shares purchased.

This press release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.

contacts

Glancy Prongay & Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 or 888-773-9224

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com
Shareholders@glancylaw.com

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