Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Snap Inc. (“Snap”) (NYSE: SNAP) securities between February 5, 2021 and October 21, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Apple’s privacy changes would have, and were having, a material impact on Snap’s advertising business; (2) Snap overstated its ability to transition its advertising with Apple’s privacy changes; (3) Snap knew of, but downplayed, the risks of the impact that Apple’s privacy changes had on Snap’s advertising business; (4) Snap overstated its commitment to privacy; and (5) as a result of the foregoing, Defendants’ public statements and statements to journalists were materially false and/or misleading at all relevant times.
Current Status of Case:
On October 27, 2025, Lead Plaintiff filed a Motion for Preliminary Approval of the Class Action Settlement. There is a Preliminary Approval Hearing scheduled for December 4, 2025. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. 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.