In this Wednesday, Feb. 7, 2018, file photo, the logo for Snap Inc. appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
NEW YORK (AP) --
Snap Inc. has received federal subpoenas related to a class-action lawsuit stemming from its 2017 initial public offering.
The lawsuit, filed last May, claims that Snap misled investors about its user growth before going public.
The company said in a statement Wednesday that it has been responding to subpoenas and requests for information from the Securities and Exchange Commission and the Department of Justice. The company says its understanding that the regulators are looking into disclosures during its initial public offering about competition from Instagram.
The SEC and the DOJ declined to comment. Snap says it believes that the lawsuit is "meritless" and its IPO disclosures were "accurate and complete."
Snap has struggled to compete with Instagram especially after the Facebook-owned app successfully copied its popular "stories" feature.
Cynthia Erivo attends the National Board of Review Awards gala at Cipriani 42nd Street on Tuesday, Jan. 7, 2025, in New York. (Photo by Evan Agostini/Invision/AP, File)
Cynthia Erivo, who is starring in the hit musical "Wicked," was named Tuesday as the 2025 Woman of the Year by Harvard University's Hasty Pudding Theatricals.
The theater group, which dates to 1844 and claims to be the world's third-oldest still operating, said Erivo will receive her Pudding Pot award at a celebratory roast Feb. 5. Afterward, she will attend a performance of Hasty Pudding Theatricals' 176th production, "101 Damnations." Actor Jon Hamm, who came to fame starring as ad executive Don Draper on the AMC series "Mad Men," is the 2025 Man of the Year. He will receive his Pudding Pot Jan. 31.
"We are holding space for Cynthia Erivo's arrival," Man and Woman of the Year Events Coordinator Hannah Frazer said in a statement. "We're sweeping out our broomstick closets and prepping some wicked smart humor as we eagerly await her in February. Before she flies off with her Pudding Pot, she'll have to work a little magic to earn it."
Along with starirng in the smash hit musical, the British entertainer is a two-time Oscar nominee and an Emmy Award, Tony Award and Grammy Award winner.
Erivo burst onto the scene with her brilliant performance in the Broadway revival of "The Color Purple." winning her the 2016 Tony for best actress in a musical. She performed songs from the play on the "Today" show, earning the Daytime Emmy for outstanding music performance in a daytime program. And the show's soundtrack won best musical theater album at the 2017 Grammys.
Last year, Erivo starred in and produced "Drift," which follows a young Liberian refugee who has escaped her war-torn country to a Greek island. In 2021, Erivo was nominated for an Emmy for her portrayal of Aretha Franklin in the National Geographic series "Genius:... Read More
