LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces that it is investigating securities claims on behalf of investors of Snap Inc. (“Snap” or the “Company”) (NYSE: SNAP).
If you purchased or otherwise acquired Snap shares, and would like more information about the investigation, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The investigation focuses on whether Snap and certain of its officers and/or directors violated federal securities laws. On March 2, 2017, the Company sold 200 million shares of stock in its initial public offering (the “IPO”), raising $3.4 billion in new capital. On May 10, 2017, after the market closed, Snap released its first earnings report as a public company and revealed a massive quarterly loss of $2.2 billion. Nearly $2 billion of that total resulted from stock-based compensation to employees, including CEO Evan Spiegel, for the IPO. The quarterly loss of $2.2 billion was more than four times the total revenue Snap recorded during the first quarter of 2017. The report also disclosed the Company’s slowest year-to-year user growth rate in at least two years. Following the disclosure of this information, Snap’s stock price dropped sharply.
If you have any questions concerning your legal rights, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at email@example.com.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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