Snap(US:SNAP) Prnewswireยท2025-10-09 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]. Group 1: Allegations and Financial Impact - The complaint alleges that Snap's management provided overly positive statements while concealing material adverse facts about the company's advertising revenue growth [1]. - Snap's advertising revenue growth rate reportedly fell from 9% in Q1 to only 1% in April 2025, leading to a significant deceleration in revenue growth disclosed on August 5, 2025 [1]. - Following the announcement of disappointing financial results, 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 [1]. Group 2: Class Action Details - Shareholders who purchased Snap shares during the class period from April 29, 2025, to August 5, 2025, are encouraged to register for the class action, with a deadline set for October 20, 2025 [2]. - Registered shareholders will be enrolled in a portfolio monitoring system to receive updates on the case's progress [2]. - There is no cost or obligation for shareholders to participate in the class action [2]. Group 3: Law Firm's Mission - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit, fraud, and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions of material information [3].