Snap(US:SNAP) Prnewswireยท2025-10-10 13:00Core Viewpoint - A class action securities lawsuit has been filed against Snap Inc. due to alleged securities fraud that negatively impacted investors between April 29, 2025, and August 5, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Snap's management made overly positive statements while concealing significant negative information regarding the company's advertising revenue growth, which dropped from 9% in Q1 to only 1% in April 2025 [2]. - On August 5, 2025, Snap reported a slowdown in advertising revenue growth, attributing it to issues with their ad platform, the timing of Ramadan, and minor changes [2]. - Following the 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 [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until October 20, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing substantial settlements for shareholders and has been recognized as one of the top securities litigation firms in the U.S. for seven consecutive years [4].