Snap Inc. Securities Class Action Settlement

Settlement Overview

The Snap Inc. Securities Class Action Settlement resolves investor claims in Black v. Snap Inc., et al., a lawsuit alleging that Snap Inc., the parent company of Snapchat, made materially false and misleading statements about the company’s financial performance and prospects that artificially inflated the price of publicly traded SNAP securitiesbetween February 5, 2021 and October 21, 2021. Snap and the individual defendants deny any wrongdoing, and there has been no ruling that they violated securities laws; the settlement is a compromise to avoid the uncertainty of continued litigation.

Products or services covered:

This settlement covers financial investments — not physical products or consumer services. Eligible securities include:

Snap Inc. Class A common stock
Snap publicly traded securities or call options you purchased or acquired during the class period
Snap put options you sold during the same period
if you suffered economic loss due to those transactions.

Why this settlement matters:

Class members may recover a pro-rata share of a $65,000,000 cash settlement fund based on the Net Settlement Fund and the approved Plan of Allocation. Compensation depends on actual investment transactions and losses — meaning payouts will vary among claimants.

Who qualifies:

Investors or entities who:

Purchased or acquired Snap Inc. common stock or call options; OR
Sold Snap put options;
between February 5, 2021 and October 21, 2021 (inclusive), and were damaged by those transactions.

How payouts work:

There is no guaranteed amount per claimant. Approved claims receive a pro-rata share of the Net Settlement Fundafter deductions for fees and expenses. Your share depends on your recognized loss under the Court-approved Plan of Allocation and the total number of valid claims submitted.

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FAQ

Q: What’s the total settlement value?

A: $65,000,000 in cash deposited into an escrow for the benefit of eligible class members.

Q: Who’s included in the settlement class?

A: Persons and entities who traded Snap Inc. securities in the class period and suffered losses.

Q: Do I need to submit a claim to get money?

A: Yes — you must file a Proof of Claim and Release postmarked or submitted online by May 6, 2026.

Q: Is proof of transaction required?

A: Yes — you must provide detailed trade information and supporting records as part of your claim.

Q: What’s a pro-rata payout?

A: After Court approval, the Net Settlement Fund is divided proportionally based on recognized losses among all approved claims.

Q: When is the fairness hearing?

A: Scheduled for April 23, 2026 to consider final court approval of the settlement.

Who Is Eligible?

Purchased or acquired Snap Inc. Class A common stock between Feb 5 and Oct 21, 2021.
OR acquired Snap call options in the same period.
OR sold Snap put options during the class period.
Suffered economic losses related to these transactions.
Submitted a valid Proof of Claim by May 6, 2026.

How to File a Claim

Go to the official claim portal.
Review all instructions and eligibility rules on the site and read the full Notice documents.
Complete the Proof of Claim and Release form fully, including your contact info and detailed Snap trade data.
Provide required transaction details (trade dates, number of shares, purchase/sale prices) and supporting documentation.
Sign and submit online or mail the completed claim form so that it is postmarked no later than May 6, 2026.
Keep a copy of your claim and supporting documents for your records.

File Your Claim Now

Documentation Requirements

Proof Required

Claimants must provide detailed transaction information such as trade dates, share counts, purchase and sale prices, and options data on the official Proof of Claim form.
Supporting documentation like brokerage confirmations or account statements is required to substantiate your claim.
Without adequate proof and documentation, a claim may be rejected or receive no payment.

Payout Details

• Total settlement fund: $65,000,000 cash.

• Pro-rata payments: Distribution depends on recognized losses and total valid claims.

• Cash benefits only: No vouchers or non-cash awards.

• Distribution method: Claims administrator mails or electronically issues payments after final approval and processing of claims.