Snap Fails to Block Deception Lawsuit
A US district judge in Los Angeles recently cleared disgruntled investors to go ahead with the lawsuit in which they accuse Snap (SNAP) of deceiving them, according to a Bloomberg report. Snap, the parent of photo-sharing app Snapchat, went public in March last year. Some investors complained that the company withheld crucial information when it went public, thereby denying them the opportunity to make informed decisions regarding investing in the stock.