Snap Execs Minimized Apple Privacy Changes, Investor Says – Law360

By Katryna Perera (March 10, 2022, 4:59 PM EST) — Executives of Snap Inc., the company behind the photo-sharing app Snapchat, have been hit with a shareholder derivative suit in California federal court over claims that they lied to investors about how damaging changes in Apple Inc.’s privacy features would be to the app’s advertising revenue, and that they engaged in insider trading.Snap shareholder Tim Dodds filed his complaint on Tuesday against the company’s CEO Evan Spiegel, Chief Financial Officer Derek Andersen, Chief Technology Officer Robert Murphy and 10 other executives or directors.Dodds’ complaint asserts counts of breaches of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and… 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! TRY LAW360 FREE FOR SEVEN DAYS
Read More