NEW YORK, Jan. 6, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Snap, Inc. (“Snap” or the “Company”) (NYSE: SNAP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Snap and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 21, 2021, Snap reported its third-quarter 2021 earnings, which missed revenue expectations. Snap cited Apple’s iPhone privacy changes as the source of disruptions to the Company’s advertising business and warned that global supply chain interruptions and labor shortages had reduced the “short-term appetite to generate additional customer demand through advertising.”
On this news, Snap’s stock price fell $19.97 per share, or nearly 27%, to close at $55.14 per share on October 22, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT: Robert S. WilloughbyPomerantz LLP [email protected]888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
