NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Snap Inc. (NYSE: SNAP) concerning possible violations of federal securities laws.
On March 2, 2017, Snap sold 200 million shares of stock in its initial public stock offering. That same day, Snap’s stock traded as high as $26.05. On May 10, 2017, Snap released its earnings report and revealed a quarterly loss of $2.2 billion. The loss includes $2 billion in stock-based compensation expenses related to its initial public offering. Following this news, shares of Snap are down more than 22% on intraday trading on May 11, 2017. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.