Investors In Snapchat Creator Adequately Pleaded Scienter, 9th Circuit Panel Says

( January 3, 2025, 10:23 AM EST) -- SAN FRANCISCO — A panel of the Ninth Circuit U.S. Court of Appeals reversed a district court’s decision to dismiss a class action complaint against the company that created Snapchat, finding that the investors had adequately alleged scienter by bringing allegations that the company had misled investors when discussing the impact of advertising changes at Apple Inc. to its revenue....