BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Snap, Inc. (“Snap” or the “Company”) (NYSE: SNAP) investors concerning the Company’s possible violations of federal securities laws.
On October 21, 2021, Snap reported weaker-than-expected third quarter earnings due to Apple's privacy update, revealing that the "changes have adversely affected our targeting, measurement, and optimization capabilities, and in turn affected our ability to measure the effectiveness of advertisements on our services.” The Company disclosed that demand for its advertising products had reduced, and thus, so had its prices, resulting in potential serious harm to its business.
On this news, Snap’s stock price fell $19.97, or 26.5%, to close at $55.14 per share on October 22, 2021, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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