LOS ANGELES, March 11, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Snap, Inc., (“Snap" or the "Company") (NYSE:SNAP) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/snap-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Snap’s stock price fell $3.45, or 26.9%, to close at $9.36 per share on August 2, 2024, thereby injuring investors. This decline followed the August 1, 2024, announcement of second quarter financial results, which reported revenue of $1,237 million and provided third quarter guidance between “$1,335 million to $1,375 million, implying year-over-year revenue growth of 12% to 16%.” Investors were injured further on September 6, 2024, when the stock price dropped $0.25, or 2.8%, to close at $8.62 per share. This second decrease came after the New Mexico Attorney General revealed on September 5, 2024, that the state’s Department of Justice had filed a lawsuit against the company. The legal action alleged that Snap’s recommendation algorithm, ephemeral content, and general policies facilitate child sexual exploitation and abuse material, while further claiming that Snap and its leadership misled the public regarding platform safety.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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