NEW YORK, March 6, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Snap, Inc. ("Snap" or the "Company") (NYSE: SNAP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Snap and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 6, 2019, The Wall Street Journal reported that in 2018, Snap "paid settlements to at least three female employees who were let go in layoffs that they alleged disproportionately targeted women." Citing "people familiar with the matter," the article reported that "[t]he layoffs came months after an engineer at the company raised concerns in an email to colleagues about what she said was a sexist culture." Following the article's publication, Snap's stock price fell $0.21 per share, or 2.08%, to close at $9.87 per share on March 6, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP