Civil Litigation,
Corporate
Jan. 22, 2020
Investors settle suit over Snapchat’s IPO
The lawsuit accused Snapchat of falsely downplaying the negative effect Facebook Inc.’s Instagram stories were having on Snapchat as the social media platform was preparing its initial public offering.
A securities fraud lawsuit over Snapchat's public offering has settled, halting a summary judgment fight that was heating up in the wake of class certification.
U.S. District Judge Stephen V. Wilson on Tuesday vacated a March 24 trial date and ordered attorneys to file by March 2 a motion for preliminary approval.
Wilson in November c...
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