Radnor, Pennsylvania–(Newsfile Corp. – October 30, 2021) – The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of investors of Snap Inc. (NYSE: SNAP) (“Snap”).
Snap is an American camera and social media company based in Santa Monica, California, that develops and maintains technological products and services such as “Snapchat” and “Bitmoji.”
On Thursday, October 21, 2021, upon issuing its third-quarter earnings, Snap stock fell more than 20% when CEO Evan Spiegel reported 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.” As a result, in its Q4 guidance, Snap would go on to report an expected revenue decrease to fall in the range of $1.165-$1.205 billion, lower than the consensus estimate of $1.36 billion.
If you are a Snap investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP to discuss your rights: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; or E-mail at [email protected].
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
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