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Technology
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Large Cap
Market Cap £37.96bn
Enterprise Value £37.05bn
Revenue £2.77bn
Position in Universe 251st / 7414

Kessler Topaz Meltzer & Check, LLP - Important Deadline Reminder for Snap Inc. Investors

Thu 25th November, 2021 12:12pm
For best results when printing this announcement, please click on link below:
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RADNOR, Pa., Nov. 25, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz
Meltzer & Check, LLP
(https://www.globenewswire.com/Tracker?data=WWlk1EciWZm_zwyD0rUAeS3dWxzbz6rHDzzTYk-VhAoNuvubWp0Qc7vxabqZuyQgZLE3wMgJpBOLeiJpOMErzlmwcTvWzDUE1qJ9a2pAg5fo57wOuVbkP1epGdl3ZW_rBUHzP9HhdAwwcedd8PqWoVFBHGEnds_PO6mQCSFpV_8dQ8sRCexmu7Q24mpJelZVjt19M2FBwzfog58jYmSGGQ==)
informs investors that a securities class action lawsuit has been filed in the
United States District Court for the Central District of California against
Snap Inc. (“Snap”) (NYSE: SNAP
(https://www.globenewswire.com/Tracker?data=3OUxnzNdFFvzr3rUXw0eK65xo-9q0GUifAR0Qca8PijO6820P-uq3C3YdyEsxbrA2UZ2xnF5IScG1CQ5OpFZzkcSoXRyBCcG83QKP5CZDlw03_Mjkc9E66PAnxZL_R6d)).
The action charges Snap with violations of the federal securities laws,
including omissions and fraudulent misrepresentations relating to the
company’s advertising business. As a result of Snap’s materially
misleading statements made to the market, Snap investors have suffered
significant losses.

CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE
(https://www.globenewswire.com/Tracker?data=L3u9sBoudp8GOYbhTWEg24aslKOr-Oh_KnVyyUMfP10FQrJm66p3AvRe5k90a2pL5h9BN4YNA8E6XVqE7mPmtHoAKnnQdepqIU-gIHQ8mzE=)

CLICK HERE
(https://www.globenewswire.com/Tracker?data=L3u9sBoudp8GOYbhTWEg20vn_cWbAVbeM0CNwahOFHjeGmxA1gRQLEk-4nAOY6IqnjXT_KwR3Mv7yIY79SnwqW5Qp1lFy57w5Qxp1A72kMl0Y5j5MLLVa-2pKeT4VGnh-41JKATyjIGNsfOeMBnp6YzcClEJgexsyjzLYXp7mUw=)
TO SUBMIT YOUR SNAP LOSSES

LEAD PLAINTIFF DEADLINE: January 10, 2022

CLASS PERIOD: July 22, 2020 through October 21, 2021

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS: 
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at
info@ktmc.com

SNAP’S ALLEGED MISCONDUCT
Snap is an American camera and social media company that develops and
maintains technological products and services such as the social media
application “Snapchat,” an eyewear product that connects with Snapchat and
captures video Spectacles, and advertising products including AR (augmented
reality) and Snap ads.

In its filings with the U.S. Securities and Exchange Commission, Snap admits
that it generates substantially all of its revenues by offering various
advertising products on Snapchat and that it monetizes its business primarily
through advertising based on its user data. In June 2020, as part of an
ongoing privacy push, Apple Inc. (“Apple”), which developed and maintains
the popular mobile operating system, iOS, for its mobile devices, publicly
announced new data privacy features for iOS. Following this announcement, Snap
continuously downplayed and misled investors regarding the impact that
Apple’s new data privacy features would have on its business. In April 2021,
Apple released the new data privacy features for iOS.

The truth emerged on October 22, 2021, when Snap filed its third quarter 2021
report for the period ending September 30, 2021 on a Form 10-Q, disclosing
Snap’s weaker-than-expected revenue and weaker-than-expected guidance
because of its advertising business, due to Apple’s privacy changes. In the
report, CEO Evan Spiegel disclosed that Snap’s advertising business had
allegedly been affected by recent privacy changes introduced by Apple in its
iOS mobile operating system in June and July. Specifically, Spiegel claimed
that “the new Apple-provided measurement solution did not scale as we had
expected, making it more difficult for our advertising partners to measure and
manage their ad campaigns for iOS.” Following this news, Snap’s stock
price fell $19.97 per share, or 26%, to close at $55.14 per share on October
22, 2021.

WHAT CAN I DO?
Snap investors may, no later than January 10, 2022, seek to be appointed as a
lead plaintiff representative of the class through Kessler Topaz Meltzer &
Check, LLP
(https://www.globenewswire.com/Tracker?data=WWlk1EciWZm_zwyD0rUAeS3dWxzbz6rHDzzTYk-VhAoNuvubWp0Qc7vxabqZuyQgyfIn7ZG6my_lvXzFRLGupMCAA1XmegGWrqduvlVATctreGH_T4cevDicmmAfVlve73aOxLM03cu8vjH6UImWGa3rBnSV7EcZndSkQYL1PJoQDpjfhOnoMxl39otvRTED67TIbd84L-XAbeNie4xZ4Q==)
or other counsel, or may choose to do nothing and remain an absent class
member. Kessler Topaz Meltzer & Check, LLP
(https://www.globenewswire.com/Tracker?data=WWlk1EciWZm_zwyD0rUAeS3dWxzbz6rHDzzTYk-VhAoNuvubWp0Qc7vxabqZuyQgMaCfZWbGZmL9J2557Nnv8TIszd-ybZBSh-izILbaNpXGIzCR_IvX9gdgjfj2nIblFAiuz-aH3J5qTXyDrgBKzmxpb8QQun-ECFpWKWzZF1FJ9sXygxSEv1YYEgXfhALvnCaLt7LKiOAXeq-q3dGxrw==)
encourages Snap investors who have suffered significant losses to contact the
firm directly to acquire more information.

CLICK HERE
(https://www.globenewswire.com/Tracker?data=L3u9sBoudp8GOYbhTWEg24Rmqo1xvSAXsTDYx7htcbTXCA4q49hvRN-c80FnJXzk0ET56bCzlZ-dsox4SkNC0BxdnmwL-bB1fKuYZwDwI4yNW3YrprE6pdOeP68ZbKk-QnaePR8pTVzqchW37wAJvizOgGjSVXd3hkd7MtFE7ik=)
TO SIGN UP FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class
members in directing the litigation.  The lead plaintiff is usually the
investor or small group of investors who have the largest financial interest
and who are also adequate and typical of the proposed class of investors. The
lead plaintiff selects counsel to represent the lead plaintiff and the class
and these attorneys, if approved by the court, are lead or class counsel. Your
ability to share in any recovery is not affected by the decision of whether or
not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP      
Kessler Topaz Meltzer & Check, LLP
(https://www.globenewswire.com/Tracker?data=WWlk1EciWZm_zwyD0rUAeS3dWxzbz6rHDzzTYk-VhAoNuvubWp0Qc7vxabqZuyQgYgbiHOAbyDX89O9qFqnNrQbEur6tfDKwZOntc06JUZEzR09jaPHlMegO-fp9M2aFVwaYJNSB0CJJNy6zoErxEzTziFbFAMg7aawCGeWEgkUdm9oIgfiiivttDwYgZysOo65vbsJknkSdV_L_Ud-vyA==)
prosecutes class actions in state and federal courts throughout the country
and around the world. The firm has developed a global reputation for
excellence and has recovered billions of dollars for victims of fraud and
other corporate misconduct. All of our work is driven by a common goal: to
protect investors, consumers, employees and others from fraud, abuse,
misconduct and negligence by businesses and fiduciaries. At the end of the
day, we have succeeded if the bad guys pay up, and if you recover your
assets.   The complaint in this action was not filed by Kessler Topaz
Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer &
Check, LLP
(https://www.globenewswire.com/Tracker?data=WWlk1EciWZm_zwyD0rUAeS3dWxzbz6rHDzzTYk-VhAoNuvubWp0Qc7vxabqZuyQgOIkZ2r4aBNvaBUmArsoLPCNmWwMqVSg7FocN6AfhkuLhk8p_9Lu9dBKqUd-NncQYwNt9U70w7VMyCWiSDpFIcm08chrn1U9dFtf2Fxs749u-tA1tZEjWKZ7oh9CEAuQkQYr4ccXUPXKwok0Lmye61w==)
please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
info@ktmc.com

A video accompanying this announcement is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a6f2102d-121b-4cf6-a508-f1967380ae75

(https://www.globenewswire.com/NewsRoom/AttachmentNg/405ec490-b904-4a5e-85a7-710cdebe280d)



GlobeNewswire, Inc. 2021
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