Pomerantz LLP is investigating claims on behalf of investors of Snap Inc. ("Snap" or the "Company") (NYSE: SNAP). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Snap and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 21, 2022, Snap issued a press release announcing the Company's financial results for the second quarter of 2022. Among other items, Snap reported revenue growth of only 13%, falling short of expectations for 15.5%, and a net loss of $422 million, compared to $152 million for the same period in the prior year. Following publication of Snap's results, multiple analysts downgraded the Company's stock.
On this news, Snap's stock price fell $6.40 per share, or 39.14%, to close at $9.95 per share on July 22, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980
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SOURCE Pomerantz LLP