$187.5 Million Snap Securities Litigation Settlement Approved

IPO litigation settled in both state and federal courts

Block & Leviton helped secure a $187.5 million settlement of the sprawling securities litigation against Snap, Inc. for misleading investors when it went public in 2019. In approving the settlement of the state court action, the Court was highly complementary of the settlement. “In this case, counsel did achieve excellent results for the members of the class. The issues were complicated with respect to matters raised on the Securities Act.”

The multi-million dollar settlement was achieved after years of hard-fought litigation. “This settlement represents an excellent result for investors and helps offset losses they incurred after buying Snap securities in the Company’s initial public offering,” said Block & Leviton partner Jacob Walker.

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June 22, 2021

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