Snap(US:SNAP) Globenewswire·2025-09-18 20:39Core 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 Relevant Sections Allegations - The complaint alleges that Snap Inc. provided overly positive statements to investors while concealing material adverse facts about its advertising revenue growth rate, which fell from 9% in Q1 to only 1% in April 2025 [3]. - On August 5, 2025, Snap announced a deceleration in advertising revenue growth, attributing it to issues with its ad platform, the timing of Ramadan, and minor changes [3]. Stock Price Impact - Following the announcement of the financial results on August 5, 2025, Snap's stock price dropped 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, with a deadline for shareholders to register for the class action set for October 20, 2025 [4]. - Shareholders who register will receive updates through a portfolio monitoring software regarding the case's status [4]. Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [5].