BENSALEM, PA – (COMMERCIAL THREAD) – Howard G. Smith Law Firms Remind Investors January 10, 2022 deadline for filing a petition as principal plaintiff in the matter filed on behalf of investors who have purchased Snap Inc. (“Snap” or the “Company”) (NYSE: BREAK) titles between July 22, 2020 and October 21, 2021, inclusive (the “Class Period”).
Investors experiencing losses on their Snap investments are encouraged to contact the law firms of Howard G. Smith to discuss their legal rights in this class action lawsuit at 888-638-4847 or by email at [email protected]
On October 21, 2021, Snap reported weaker than expected third quarter results due to Apple’s privacy update, revealing that “the changes negatively affected our targeting, measurement and optimization capabilities , and in turn affected our ability to measure the effectiveness of advertisements on our services.The company revealed that the demand for its advertising products had decreased, and therefore its prices, which could cause serious harm to its business.
On this news, Snap’s stock price fell $ 19.97, or 26.5%, to close at $ 55.14 per share on October 22, 2021, hurting investors.
The lawsuit filed in this class action alleges that throughout the class action period, the defendants made false and / or misleading statements and / or failed to disclose: (1) changes made by Apple to confidentiality would and did have a significant impact on the company’s advertising Business; (2) Snap overestimated its ability to evolve its advertising with Apple’s privacy changes; (3) Snap was aware of, but downplayed, the risks of the impact Apple’s privacy changes have had on the Company’s advertising activities; (4) Snap has overstated its commitment to privacy; and (5) because of the foregoing, the defendants’ public statements and statements to reporters were materially false and / or misleading at all relevant times.
If you have purchased or acquired any securities of Snap during the Class Period, you can bring the matter before the Court at the latest. January 10, 2022 ask the Court to appoint you as the principal applicant if you meet certain legal conditions. To be a member of the class action, you do not need to take any action at this time; you can retain the services of a lawyer of your choice or take no action and remain an absent member of the class action. If you would like to learn more about this class action lawsuit, or if you have any questions regarding this announcement or your rights or interests in any such matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith , 3070 Bristol Pike, Suite 112, Bensalem, PA 19020, by phone at (215) 638-4847, toll free at (888) 638-4847, or by email at [email protected], or visit our website at the address www.howardsmithlaw.com.
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