Snapchat Takes Class Cert. Fight In IPO Suit To 9th Circ.

Law360 (December 4, 2019, 5:24 PM EST) -- Snap Inc., the parent company of social media giant Snapchat, petitioned the Ninth Circuit Tuesday for permission to appeal a lower court's class certification in an investor suit accusing Snap of concealing problematic growth metrics ahead of its initial public offering.

The company argued that a California federal court took a "certify-at-all-costs approach" in its November ruling, ignoring that the investors' securities fraud allegations are actually time-barred. The lower court also improperly expanded both the class and Snap’s liability in the suit, and allowed for a faulty damages model, according to the strongly worded petition.

“The District Court here circumvented multiple...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Attached Documents

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


Subscribers Only

Nature of Suit

Subscribers Only


Subscribers Only

Date Filed

Subscribers Only

Law Firms


Government Agencies

Judge Analytics