Snapchat app, a brand of Snap Inc. Photo: Diego M. Radzinschi/ALM Class Action Alleges Snap Co-Founders Stripped Shareholder of Voting Rights
The complaint claims the amendment of California-based Snap's IPO charter without a shareholder vote constitutes a breach of fiduciary duty.
August 03, 2022 at 04:18 PM
3 minute read
A shareholder class action has been filed against Snap Inc., alleging the camera and social-media company's co-founders have stripped holders of public shares of their voting rights while giving themselves more flexible control.
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