A securities class action has been filed against Snap Inc. (SNAP) on behalf of persons and entities that purchased or otherwise acquired acquired Snap securities between April 29, 2025 through August 5. This case has been filed in the USDC – CDCA.
Investors.com reported on August 6, 2025, that “Snap . . . stock tumbled Wednesday after the Snapchat parent company posted second-quarter results. Revenue growth missed estimates, a letdown after social media competitors Meta Platforms . . . and Reddit . . . posted results well ahead of expectations last week.”
Investors.com reported that “Snap said in a letter to investors that an ‘issue with its ad platform’ caused some advertisers to win campaign auctions at ‘substantially reduced prices.’ The issue has been fixed but acted as a headwind for Q2 revenue, the company said.”
Following this new, shares of Snap stock fell almost 20% during intraday trading on August 6, 2025.