Snap Inc. (SNAP)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Snap Inc. (“Snap” or the “Company”) (NYSE: SNAP). Investors who purchased Snap securities are encouraged to obtain additional information and assist the investigation.   

 

The investigation concerns whether Snap violated federal securities laws.


On July 21, 2022, Snap issued a press release announcing the Company’s financial results for the second quarter of 2022.  Among other items, Snap reported revenue growth of only 13%, falling short of expectations for 15.5%, and a net loss of $422 million, compared to $152 million for the same period in the prior year.  Following publication of Snap’s results, multiple analysts downgraded the Company’s stock.  On this news, Snap’s stock price fell $6.40 per share, or 39.14%, to close at $9.95 per share on July 22, 2022.

 

If you are aware of any facts relating to this investigation or purchased Snap shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.