Snap(US:SNAP) Globenewswireยท2025-10-10 18:27Core Viewpoint - A class action lawsuit has been filed against Snap, Inc. for allegedly providing misleading statements regarding its advertising revenue growth, leading to significant losses for investors who purchased shares between April 29, 2025, and August 5, 2025 [7]. Allegation Details - The lawsuit claims that Snap's management made overly positive statements about the company's performance while concealing material adverse facts about its advertising revenue growth rate, which dropped from 9% in Q1 to only 1% in April 2025 [7]. - Snap's financial results announced on August 5, 2025, revealed a deceleration in advertising revenue growth, attributed to issues with its ad platform and external factors like the timing of Ramadan [7]. Stock Price Impact - Following the announcement of disappointing financial results, Snap's stock price fell from $9.39 per share on August 5, 2025, to $7.78 per share on August 6, 2025, marking a decline of approximately 17.15% in just one day [7].