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: Apr 29 2025 - Aug 05 2025
CASE DETAILS: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Snap’s advertising revenue growth rate; notably, that, due to Snap’s own execution failure, it had significantly declined from 9% in the first quarter to only 1% in April. On August 5, 2025, Snap announced its financial results for the second quarter of fiscal 2025, disclosing a deceleration in advertising revenue growth. The Company attributed the slowdown to “an issue related to our ad platform, the timing of Ramadan and the effects of the de minimis changes.” Following this news, the price of Snap’s common stock declined dramatically. From a closing market price of $9.39 per share on August 5, 2025, Snap’s stock price fell to $7.78 per share on August 6, 2025, a decline of about 17.15% in the span of just a single day.
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