NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, has commenced an investigation into Snap Inc. (NYSE: SNAP) (“Snap” or the “Company”) related to potential violations of federal securities laws. If you are a Snap shareholder, you are encouraged to contact Scott+Scott for additional information.
Snap Inc. provides technology and social media services. The Company develops mobile camera application products and services that allow users to send and receive photos, drawings, text, and videos.
On May 10, 2017, after the market had closed, Snap announced financial results for its first quarter as a public company, including a $2.2 billion loss, $2 billion of which was related to stock-based compensation. The Company reported revenue of $149.6 million, short of analyst estimates of $158.6 million.
On this news, Snap’s stock plummeted in after-hours trading and opened at $17.96 on May 11, 2017 – nearly a 22% drop from the previous day’s close price.
What You Can Do
If you are a Snap shareholder and you wish to discuss this investigation, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California and Ohio.