Snap, Inc. Investors: Company Investigated by the Portnoy Law Firm
LOS ANGELES, Oct. 29, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Snap, Inc. (“Snap” or the “Company”) (NYSE: SNAP) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether Snap issued misleading and/or false statements and/or failed to disclose pertinent information to investors. On October 21, 2021 Snap announced its third quarter earnings, which missed Wall Street expectations. The miss was blamed by CEO Evan Spiegel 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.” Shares of Snap fell by 22% on the same day, based on this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar