Snap(US:SNAP) Prnewswire·2025-09-29 12:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Snap Inc. regarding a class action lawsuit due to allegations of misleading statements about the company's advertising revenue growth, which significantly declined from 9% to 1% during the specified period [1]. Summary by 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 [1]. - The advertising revenue growth rate reportedly dropped from 9% in Q1 to only 1% in April 2025, attributed to execution failures within the company [1]. Financial Impact - On August 5, 2025, Snap announced its Q2 financial results, revealing a slowdown in advertising revenue growth due to issues with its ad platform and other factors [1]. - Following this announcement, Snap's stock price fell from $9.39 per share on August 5 to $7.78 per share on August 6, representing a decline of approximately 17.15% in one day [1]. Class Action Details - Shareholders who purchased shares of Snap during the class period from April 29, 2025, to August 5, 2025, are encouraged to register for the class action lawsuit [2]. - The deadline for shareholders to seek lead plaintiff status is October 20, 2025, and there is no cost or obligation to participate in the case [2].