NEW ORLEANS, Jan. 18, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJanuary 31, 2019 to file lead plaintiff applications in a securities class action lawsuit against Snap Inc. (NYSE: SNAP), if they purchased the Company's shares between March 2, 2017, and August 10, 2017, inclusive (the "Class Period") or traceable to its March 2, 2017 Initial Public Offering. This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Snap and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-snap/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 31, 2019.
About the Lawsuit
Snap and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 10, 2017, Snap disclosed disappointing Q2 results including ongoing lower-than-expected growth in daily active users ("DAU"), a key user engagement metric. During the earnings conference call, the Company admitted to using "growth hacking" or sending push notifications to users to stoke their access levels, and hence boost user metrics.
On this news, the price of Snap's shares plummeted $1.94 per share, or approximately 14%.
The case is In Re Snap Inc. Securities Litigation, No. 2:17-cv-03679.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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