Our attorneys are investigating legal claims on behalf of investors of SNAP Inc. (NYSE: SNAP) regarding possible violations of federal securities laws.

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SNAP Stock Plunges Nearly 8% In After Hours Trading Following CFO's Abrupt Resignation

On January 15, 2019, SNAP announced that its Chief Financial Officer, Tim Stone, would resign to “pursue other opportunities” after less than a year in that role.  The Wall Street Journal published an article on Stone’s departure, noting that it was the latest in a string of high-profile executive departures from Snap in recent months, and that in choosing to resign after such a short time with the company, Stone was leaving behalf “a hefty share of his $20 million signing bonus.”  The Wall Street Journal article also quoted Peter Crist, chairman of executive-search firm Crist|Kolder Associates, who stated “’For a talented CFO to leave after only eight months suggests he or she was surprised with what they found.’”

Following the news of CFO Stone’s departure, shares of SNAP dropped by nearly 8% in after-hours trading on January 15, 2019.

Gibbs Law Group's Financial Fraud Experience

Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.

We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).

Noteworthy Financial Fraud Cases

American Express Financial Advisors Securities Litigation $100 million cash settlement for clients alleging American Express steered them into under-performing “shelf space funds” to reap kickbacks
Chase Bank “Check Loan” Litigation $100 million settlement for consumers alleging Chase offered long-term fixed-rate loans, only to later more-than-double required payments
Peregrine Financial Group Customer Litigation Settlements worth $75 million for futures and commodities investors who lost millions in the collapse of Peregrine Financial Group, Inc.
NantHealth Court-appointed Co-Lead Counsel in a securities class action alleging the company’s founder violated federal securities law and artificially inflated stock prices

Our Securities Attorneys

Eric Gibbs

Eric has served in leadership positions in a number of high profile, complex financial lawsuits. He has been recognized as a Daily Journal, among the Top 100 Super Lawyers in Northern California, and a Law360 MVP for Consumer Protection.

David Stein

David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.

Michael Schrag

Michael has over 20 years of experience representing individuals in complex cases involving banking credit card and other financial frauds.

Amanda Karl

Amanda represents employees, consumers and investors in complex class action lawsuits nationwide. She was a law clerk to Hon. Richard A. Paez of the Ninth Circuit Court of Appeals, and to Hon. Claudia Wilken, Northern District of California.

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