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Levi & Korsinsky Files Class Action Against Snap Inc. Over Securities Fraud Allegations
ByAinvest
Friday, Sep 26, 2025 9:08 am ET1min read
• Snap Inc. class action lawsuit filed for securities fraud. • Allegations of false statements and concealing material facts. • Lawsuit seeks recovery of losses for affected investors. • Investors may contact Levi & Korsinsky for more information. • Joseph E. Levi, Esq. can be reached at [email protected] or (212) 363-7500.
Snap Inc. (NYSE: SNAP) is facing a securities fraud class action lawsuit, with multiple law firms urging investors to take action. The lawsuit alleges that the company made false statements and concealed material adverse facts about its advertising revenue growth rate.The class action lawsuit was filed on behalf of Snap investors who purchased shares between April 29, 2025, and August 5, 2025. According to the complaint, Snap provided overwhelmingly positive statements to investors while simultaneously disseminating materially false and misleading statements and concealing material adverse facts. Notably, the complaint alleges that Snap's advertising revenue growth rate significantly declined from 9% in the first quarter to just 1% in April due to the company's own execution failures. On August 5, 2025, Snap announced its financial results for the second quarter of fiscal 2025, disclosing a deceleration in advertising revenue growth. The company attributed the slowdown to "an issue related to our ad platform, the timing of Ramadan and the effects of the de minimis changes." Following this news, the price of Snap's common stock declined dramatically, falling from $9.39 per share on August 5, 2025, to $7.78 per share on August 6, 2025, a decline of about 17.15% in a single day [1].
The deadline for investors to register for this class action is October 20, 2025. Investors are encouraged to contact the Gross Law Firm, Levi & Korsinsky, or Bronstein, Gewirtz & Grossman to discuss their rights and potential involvement in the lawsuit. There is no cost or obligation to participate, and investors may be entitled to compensation without payment of any out-of-pocket costs or fees [2].
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