Snap(US:SNAP) Globenewswire·2025-10-10 15:49Core Viewpoint - Snap, Inc. is facing a class action lawsuit due to allegations of misleading investors regarding its advertising revenue and growth expectations during the specified class period from April 29, 2025, to August 5, 2025 [1][3]. Group 1: Legal Action - The Portnoy Law Firm is advising Snap investors to join a class action lawsuit, with a deadline for filing a lead plaintiff motion set for October 20, 2025 [1]. - Investors can contact the Portnoy Law Firm for a complimentary case evaluation and to discuss their legal rights [2]. Group 2: Allegations - The lawsuit claims that Snap misled investors by presenting an overly optimistic view of its advertising revenue and growth, while attributing uncertainties to external macroeconomic conditions [3]. - It is alleged that Snap's positive statements about advertising growth were unfounded and based on execution capabilities that the company was failing to meet [3]. Group 3: Financial Impact - On August 5, 2025, Snap reported disappointing second quarter 2025 financial results, indicating a sharp slowdown in advertising revenue, partly due to internal execution errors that led to reduced auction prices for campaigns [4]. - Following the release of these disappointing results, Snap's stock price fell by more than 17% [4].