||United States District Court for the Southern District of California
||The Honorable Stephen V. Wilson
||March 2, 2017 and August 10, 2017
On May 16, 2017, the initial complaint in this securities class action was filed against Snap, Inc. (“Snap” or the “Company”), and certain of Snap’s directors, officers and underwriters, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed 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 at all relevant times.
Class representatives brought this action on behalf of all persons and entities who purchased or otherwise acquired Snap Class A common stock between March 2, 2017 and August 10, inclusive, and were damaged thereby.
Current Status of Case:
On June 7, 2019 Lead Plaintiffs filed a Motion for Class Certification. On November 20, 2019 the Court issued an Order granting the Class Certification Motion. On March 20, 2020, the parties entered into a Stipulation and Agreement of Settlement. On April 27, 2020, the Court issued an Order preliminarily approving the Settlement. On March 9, 2021 the Court Entered Final Judgement approving the Class Action Settlement in the amount of $154,687,500.00.
For information about the settlement ands to obtain claim information, please visit: https://www.snapsecuritieslitigation.com
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at firstname.lastname@example.org. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.