#United States #Boca Raton, Florida #securities litigation #Snap Inc. #Saxena White

Saxena White P.A. Announces Settlement in Snap Inc. Securities Litigation

In a recent development, Saxena White P.A. has revealed a proposed settlement concerning the securities litigation against Snap Inc. This announcement is a significant milestone for shareholders who purchased or acquired Snap's publicly traded securities between February 5, 2021, and October 21, 2021. The class action suit has gained considerable attention, and the proposed settlement aims to address the claims of those affected by Snap's financial disclosures during this period.

Background of the Case

The legal action against Snap Inc. was initiated after allegations emerged regarding potential misrepresentation of financial data that may have influenced the stock's market performance. Plaintiffs, including Kellie Black, who represents a group of affected shareholders, assert that they incurred losses due to misleading information provided by Snap's executives, which included co-founders Evan Spiegel and Jeremy Gorman. The case highlights the risks associated with investing in tech companies and underscores the importance of transparency in corporate communications.

Details of the Proposed Settlement

The settlement proposes an allocation of $65 million in cash, which will be distributed among eligible shareholders. A hearing to approve the settlement is scheduled for April 23, 2026, at the United States District Court in California. During this session, Judge George H. Wu will assess whether the proposed settlement is fair and adequate. Key points of discussion will include:

• - Approval of the distribution plan for the settlement funds.
• - Assessment of attorneys' fees arising from the settlement process.
• - Consideration of whether to dismiss the case with prejudice once the settlement is finalized.

Important Dates for Shareholders

Affected shareholders should be aware of crucial deadlines related to the settlement:

• - May 6, 2026: Deadline to submit claims for a share of the settlement fund.
• - March 26, 2026: Date by which any requests for exclusion from the settlement must be submitted.
• - March 26, 2026: Deadline for filing objections to the proposed settlement or its allocation plan.

How to Participate in the Settlement

Shareholders who wish to participate in the settlement must submit a Proof of Claim and Release form either online or via mail, ensuring it is postmarked by the specified date. It is essential for potential claimants to act promptly, as failure to submit a valid claim could result in being excluded from benefits while still being bound by the court’s final judgment.

Those wishing to exclude themselves can do so by following the instructions laid out in the court’s notice. Excluded individuals will not be subject to the settlement’s terms and will retain the right to pursue separate legal action, if desired.

Next Steps

The outcome of the forthcoming settlement hearing will play a pivotal role in concluding the litigation process for Snap Inc. shareholders. Potential class members are encouraged to stay informed by checking the Settlement Website or the court’s PACER site for updates. This proposed settlement represents an opportunity for recovery for those who believe they were adversely affected by the alleged misinformation regarding Snap's market performance.

Conclusion

The Snap Inc. securities litigation is a prime example of the challenges investors face in the technology sector regarding financial disclosures and transparency. As the settlement process unfolds, it serves as a crucial reminder of the importance of diligence and advocacy in the realm of corporate governance. Shareholders are advised to monitor the developments closely, ensuring they are prepared to respond appropriately to the court’s decision.

For more information, shareholders can visit www.SnapSecuritiesSettlement.com or contact the claims administrator directly for assistance. This situation continues to evolve, and stakeholder engagement will be vital for a fair resolution.