Snap(US:SNAP) Globenewswire·2025-09-10 19:48Core Viewpoint - The Gross Law Firm is notifying shareholders of Snap Inc. regarding a potential class action lawsuit due to misleading statements about the company's advertising revenue growth, which significantly declined during the reported period [1][3]. Summary by Sections Allegations - The complaint alleges that Snap Inc. made overwhelmingly positive statements about its advertising revenue while concealing material adverse facts. Specifically, the advertising revenue growth rate dropped from 9% in Q1 to only 1% in April 2025 [3]. Financial Impact - On August 5, 2025, Snap announced a deceleration in advertising revenue growth, attributing it to issues with its ad platform and other factors. Following this announcement, Snap's stock price fell from $9.39 per share to $7.78 per share on August 6, 2025, marking a decline of approximately 17.15% in one day [3]. Class Action Details - The class period for the lawsuit is defined as April 29, 2025, to August 5, 2025. Shareholders are encouraged to register for the class action by October 20, 2025, to participate in potential recovery [4]. Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices. The firm seeks recovery for investors who suffered losses due to misleading statements that inflated stock prices [5].