NEW YORK, NY - September 6, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Snap Inc. (“Snap” or the “Company”) (NYSE: SNAP) on behalf of investors that purchased or otherwise acquired Snap securities between April 29, 2025 and August 5, 2025 (the “Class Period”).
If you purchased Snap securities during the Class Period and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than October 20, 2025 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On August 5, 2025, after markets closed, Snap issued a press release and held an earnings call announcing financial results for the second quarter of 2025. The Company disclosed that advertising revenue decelerated significantly in the quarter. On the earnings call, Derek Anderson (“Anderson”), Snap’s Chief Financial Officer, attributed the slowdown to “an issue related to our ad platform, the timing of Ramadan and the effects of the de minimis changes.” Anderson further disclosed that the Company “shipped a change that caused some campaigns to clear the auction at substantially reduced prices” and that defendants “saw in April that ad revenue growth declined to approximately 1%” compared to a rate of approximately 9% in the first quarter.
Following this news, the price of Snap stock fell $1.61 per share, over 17%, to close at $7.78 per share on August 6, 2025.
According to the Complaint, Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Snap’s advertising revenue growth rate; notably, that, due to Snap’s own execution failure, it had significantly declined from 9% in the first quarter to only 1% in April.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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https://www.kaplanfox.com/case/snap-inc/
