The Business Litigation Blog

Snap Involved in Shareholder Lawsuit

Snap Inc., the parent company of Snapchat, was sued for allegedly misrepresenting how many people used the snapchat app. The lawsuit was filed in the U.S. District Court in Los Angeles by a shareholder. The misrepresentation of the user base is being blamed for a drop in the price of the company’s shares. Lawsuits filed after a stock loses value are often defeated before trial. Damages have not been specified and a class-action designation is being sought.

If you have a shareholder dispute, contact Thomas E. Patterson or Patterson Law Firm at tpatterson@pattersonlawfirm.com or (312)-223-1699. 

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