Snap(US:SNAP) Prnewswireยท2025-08-22 10:00Core Viewpoint - The Snap Inc. class action lawsuit alleges that the company and its executives misled investors regarding advertising revenue and growth expectations, leading to significant financial losses when the truth was revealed [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Abdul-Hameed v. Snap Inc., and it involves purchasers of Snap securities from April 29, 2025, to August 5, 2025, with a deadline of October 20, 2025, for lead plaintiff applications [1]. - The lawsuit claims that Snap's executives created a false impression of reliable advertising revenue information while downplaying macroeconomic instability [3]. - On August 5, 2025, Snap reported disappointing second-quarter results, revealing a significant deceleration in advertising revenue, which caused Snap's stock price to drop over 17% [4]. Group 2: Legal Process and Firm Background - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Snap securities during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [5]. - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud litigation, having recovered over $2.5 billion for investors in 2024 alone, and is recognized for securing substantial monetary relief for investors [6].