LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Snap Inc. (“Snap” or the “Company”) (NYSE: SNAP) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Snap investigation page on our website at www.glancylaw.com/case/snap-inc.
On May 10, 2017, Snap reported a first quarter 2017 net loss of more than $2.2 billion. The loss was mostly attributable to stock-based compensation, which included an “award” of $636.6 million to the CEO of the Company, Evan Spiegel.
On this news, the Company’s stock price fell nearly 20% during intraday trading on May 11, 2017, thereby injuring investors.
If you purchased Snap securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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