NEW YORK, March 12, 2026 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Snap, Inc. (“Snap” or the “Company”) (NYSE: SNAP). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, 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 August 1, 2024, Snap announced its financial results for the second quarter of 2024, which included revenue of $1.237 billion, and provided third quarter guidance in the range of $1.335 billion to $1.375 billion, implying year-over-year revenue growth of 12% to 16%.
As the market reacted to the Company’s lower-than-expected financial results and revenue guidance, Snap’s stock price fell $3.45 per share, or 26.9%, to close at $9.36 per share on August 2, 2024.
Then, on September 5, 2024, the New Mexico Attorney General announced that the state’s Department of Justice had filed a lawsuit against Snap, alleging that its recommendation algorithm, ephemeral content, and general policies facilitate child sexual exploitation and abuse material, while further claiming that Snap and its leadership misled the public regarding platform safety.
On this news, Snap’s stock price fell $0.25 per share, or 2.82%, to close at $8.62 per share on September 6, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, 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.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
