LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Snap Inc. (“Snap” or “the Company”) (NYSE: SNAP) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Snap announced its third quarter earnings on October 21, 2021, missing Wall Street expectations. CEO Evan Spiegel blamed the miss on Apple’s privacy-focused changes to iPhones and related devices, which he had previously praised. Spiegel said: “While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS.” Based on this news, shares of Snap fell by 22% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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