Snap(US:SNAP) Prnewswire·2026-03-12 22:40Core Viewpoint - Pomerantz LLP is investigating claims on behalf of investors of Snap, Inc. regarding potential securities fraud and unlawful business practices by the company and its leadership [1] Financial Performance - Snap reported second quarter 2024 revenue of $1.237 billion and provided third quarter guidance of $1.335 billion to $1.375 billion, indicating year-over-year revenue growth of 12% to 16% [1] - Following the announcement of lower-than-expected financial results and revenue guidance, Snap's stock price dropped by $3.45 per share, or 26.9%, closing at $9.36 per share on August 2, 2024 [1] Legal Issues - On September 5, 2024, the New Mexico Attorney General announced a lawsuit against Snap, alleging that its platform facilitates child sexual exploitation and abuse material, and that the company misled the public about platform safety [1] - In response to the lawsuit, Snap's stock price fell by $0.25 per share, or 2.82%, closing at $8.62 per share on September 6, 2024 [1] Firm Background - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of recovering multimillion-dollar damages for victims of securities fraud and corporate misconduct [1]