Levi & Korsinsky Files Class Action for Snap Inc. Investors
Levi & Korsinsky Takes Action for Snap Inc. Investors
In recent developments, the prominent law firm Levi & Korsinsky has taken a proactive stand by filing a class-action lawsuit concerning the securities of Snap Inc. Investors who acquired shares during a specified time frame are urged to take action and understand their rights.
Details of the Class Action Lawsuit
The class-action lawsuit, identified as Omar Abdul-Hameed v. Snap, Inc., et al., has been initiated in the United States District Court for the Central District of California. This action targets individuals who purchased Snap, Inc. securities between April 29, 2025, and August 5, 2025.
Understanding the Allegations
According to the allegations in the lawsuit, Snap Inc. provided investors with significantly positive outlooks regarding its advertising revenue growth rate. However, these statements were allegedly misleading. The firm claims that there was a notable decline in Snap's advertising growth, falling from 9% in the first quarter of fiscal 2025 to just 1% by April due to serious execution failures.
Financial Performance and Market Reaction
On August 5, 2025, Snap Inc. reported disappointing financial results for the second quarter, revealing a slowing advertising revenue growth. The company's management pointed to various factors including issues with their advertising platform and changes in market conditions as contributing to this slowdown. Following this announcement, the stock price saw a dramatic dip of approximately 17.15% within a single day, closing at $7.78 per share on August 6, down from $9.39 the previous day.
Deadline for Claiming Your Rights
If you are among those affected by the stock's decline, it is crucial to note that you have until October 20, 2025, to request an appointment as the lead plaintiff in the case. However, it is important to clarify that participating in the lawsuit does not necessarily require you to hold this status in order to potentially benefit from any future recovery.
Why Choose Levi & Korsinsky?
Levi & Korsinsky, with over two decades of experience, has consistently secured substantial amounts for their clients. Their reputation for handling complex securities litigation is well-established, making them a formidable ally in the legal sphere. The firm's efforts have placed them among the top securities litigation firms in the United States, with a diverse team committed to serving the interests of investors.
Contact Information for Queries
For those interested in seeking further information or having any questions, you can reach out directly to Levi & Korsinsky:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Telephone: (212) 363-7500
Email: jlevi@levikorsinsky.com
Website: www.zlk.com
Frequently Asked Questions
What is the purpose of the class-action lawsuit?
The class-action lawsuit aims to recover losses for investors who purchased Snap Inc. securities during the specified period.
What are the key dates for this lawsuit?
Investors must act before October 20, 2025, to be considered for lead plaintiff status.
How did Snap's stock perform following the recent announcements?
Snap's stock plummeted approximately 17.15% within a single day following the disappointing earnings report.
What should I do if I was affected by the drop in Snap's stock price?
If you suffered losses during the specified timeframe, consider contacting Levi & Korsinsky for legal advice and potential action.
Why is Levi & Korsinsky a trusted law firm for investors?
The firm has a proven track record of securing significant settlements for shareholders in complex securities litigation cases.
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