Snap(US:SNAP) GlobeNewswire News Roomยท2025-09-04 10:40Core 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 for shareholders during the specified class period [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Abdul-Hameed v. Snap Inc., No. 25-cv-07844 (C.D. Cal.), and it involves purchasers or acquirers of Snap securities from April 29, 2025, to August 5, 2025 [1]. - Investors have until October 20, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit claims that Snap's executives created a false impression of reliable information regarding the company's advertising revenue and growth potential while downplaying macroeconomic instability [3]. Group 2: Allegations and Financial Impact - On August 5, 2025, Snap released disappointing second-quarter fiscal year 2025 results, revealing a significant deceleration in advertising revenue, partly due to a change that led to campaigns clearing the auction at reduced prices [4]. - Following the release of these results, Snap's stock price fell by more than 17% [4]. Group 3: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Snap securities during the class period to seek appointment as lead plaintiff [5]. - The lead plaintiff is typically the investor with the greatest financial interest in the case and acts on behalf of all class members [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6]. - The firm has been ranked 1 in securing monetary relief for investors in securities class action cases for four out of the last five years [6].