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Snap Inc. (SNAP)



Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $500,000 In Snap Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Snap Inc. (“Snap” or the “Company”) (NYSE:SNAP) of the July 17, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Snap stock or options pursuant to the Company’s IPO and/or throughout the Class Period and would like to discuss your legal rights, please fill out the form below.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Snap securities pursuant to the Company’s initial public offering on or about March 2, 2017 (the “IPO”) and/or on the open market between March 2, 2017 and May 15, 2017 (the “Class Period”).  The case, Erickson v. SNAP, INC. et al, No. 2:17-cv-03679 was filed on May 16, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Snap’s reported user growth was materially false and misleading; and (ii) as a result, Snap’s public statements were materially false and misleading.

Specifically, after market on May 10, 2017, Snap released its first quarterly report as a
public company. In the Company’s report it disclosed dismal user growth regarding the Company’s Snapchat messaging platform.  On this news, Snap’s share price fell from $22.98 per share on May 10, 2017 to a closing price of $18.05 on May 11, 2017—a $4.93 or a 21.45% drop.

In addition, on May 16, 2017, Bloomberg reported that a former Snap employee, Anthony Pompliano, had filed a lawsuit against the Company, “claim[ing] he was fired after three weeks on the job for raising questions about allegedly false growth metrics [and] seeking whistleblower protection against retaliation by [the] company.”

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Snap Inc. (SNAP)

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330


Case Details


  • 05/17/2017

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