Overview
- The putative class covers purchasers of Snap securities from April 29, 2025 through August 5, 2025.
- The complaint alleges Snap promoted optimistic performance while ad‑revenue growth slid from about 9% in Q1 2025 to roughly 1% in April due to execution failures.
- On August 5, 2025, Snap reported a deceleration in advertising revenue and cited an ad‑platform issue, the timing of Ramadan, and effects of de minimis changes.
- Following the disclosure, Snap’s share price fell about 17% from $9.39 on August 5 to $7.78 on August 6, 2025.
- The case is captioned Abdul‑Hameed v. Snap Inc., No. 25‑cv‑07844, in the Central District of California, and the allegations remain unproven as firms solicit lead‑plaintiff motions.