Investors filed a class action accusing Snap of misleading shareholders about advertising revenue growth between April 29 and August 5, 2025. The complaint alleges management concealed a steep decline in revenue growth from 9% in the first quarter to 1% by April. Snap released second-quarter results on August 5, 2025, attributing the slowdown to ad platform issues, the timing of Ramadan, and minor operational changes. The stock fell from $9.39 to $7.78 per share overnight, a 17.15% decline. Affected investors can pursue recovery through a provided submission link at no cost or obligation. Levi & Korsinsky LLP is leading the litigation.
Snap Inc., the social media giant known for its disappearing messages and playful filters, is now facing serious allegations from its investors. A class action lawsuit has been filed against the company, accusing it of misleading shareholders about its advertising revenue growth. Between April 29 and August 5, 2025, Snap allegedly painted an overly optimistic picture of its financial health, while concealing a significant downturn in its advertising revenue growth rate.
The lawsuit claims that Snap's management failed to disclose a sharp decline in revenue growth, which plummeted from 9% in the first quarter to a mere 1% by April. This revelation came to light on August 5, 2025, when Snap released its second-quarter financial results, attributing the slowdown to issues with its ad platform, the timing of Ramadan, and minor operational changes. The market reacted swiftly, with Snap's stock price dropping from $9.39 to $7.78 per share overnight, marking a staggering 17.15% decline.
The legal proceedings are being spearheaded by Levi & Korsinsky LLP, a firm with a formidable reputation in securities litigation. With over two decades of experience and a track record of securing substantial settlements for shareholders, Levi & Korsinsky is well-equipped to handle this high-profile case. Their expertise and dedication have earned them a spot in the ISS Securities Class Action Services' Top 50 Report for
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