Snap Lawsuit Submission Form

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.