Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Snap Inc. (NYSE: SNAP) securities.
If you suffered a loss on your Snap investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 27 2019 - Feb 27 2024
CASE DETAILS: On Feb. 6, 2024, after announcing it would reduce its job force by 10%, Snap reported disappointing Q4 and FY 2023 financial results and disappointing guidance for its March quarter, again unable to prove that it can be profitable on a GAAP basis. Quarterly revenues came in at about $1.36 billion, just a 5% year-over-year increase and missing analysts' consensus. While the company said that its daily active user base grew 10% year-over-year to 414 million, that rate decelerated from prior quarters. One analyst reportedly observed "‘Snap has failed to show the market its ability to capitalize on resilient ad spending across different parts of the economy.'" Following this news, on February 7, 2024, Snap shares dropped over 5% during intraday trading.
Please provide your address so we can contact you about your case if eligible.






Input your stock purchases and sales












Connect with SnapTrade to let us the stocks you own. This is an optional step to keep you. informed about class action litigation.
✓ Fast: takes less than a min
✓ We do not create an attorney-client relationship
✓ Your information is confidential & secure





