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NEW YORK, NY / ACCESSWIRE / December 6, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces the filing of a class action lawsuit against Snap Inc. (NYSE:SNAP).
Snap stock fell 22% after reporting its third-quarter earnings on Thursday, October 21, 2021. The company's revenue missed Wall Street expectations after its advertising business was disrupted by privacy changes Apple introduced earlier this year.
Snap CEO Evan Spiegel praised Apple's consumer-friendly changes on CNBC in February, when he also warned they posed a risk to Q4 earnings, but said on Thursday the iPhone's privacy settings impacted Snap's advertising business more than anticipated.
"While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS," Spiegel said in his prepared remarks.
Investors who purchased the company's securities between July 22, 2020 and October 21, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before January 10, 2022.
If you currently own stock or options in Snap Inc. and suffered a loss, click here to participate.
If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at email@example.com.
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz
SOURCE: Labaton Sucharow LLP
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