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    Feds subpoena Snap over shareholder lawsuit

    By SHOOTUpdated:No Comments1787 Views
    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.

    Tags:Department of JusticeSECSnap



    Kevin Costner to receive MPSE Filmmaker Award; Greg Hedgepath named recipient of MPSE Career Achievement honor

    Thursday, November 21, 2024
    Kevin Costner (photo courtesy of Kevin Costner)

    Motion Picture Sound Editors (MPSE) will present Oscar®-winning filmmaker and actor Kevin Costner with the 2025 MPSE Filmmaker Award, bestowed annually to a filmmaker of distinction. And supervising sound editor Greg Hedgepath will receive the Career Achievement Award for his prolific career in sound editing. Both awards will be presented during MPSE’s 72nd Annual Golden Reel Awards Gala on February 23, 2025 at the Ebell Theatre in Los Angeles.

    The MPSE Filmmaker Award is bestowed upon an individual outside the sound community whose career has demonstrated a great appreciation and understanding of the impact of sound editing. The MPSE Career Achievement Award is presented to a person whose career has made a significant impact on the sound community through exemplary work, service or leadership.

    “Kevin Costner has captivated audiences with his powerful storytelling throughout his illustrious career,” said MPSE president David Barber. “From epic Westerns to poignant dramas, his use of sound as an integral component of his cinematic storytelling has stirred our emotions and immersed viewers in the worlds he’s created for decades. This passion for sound is abundantly clear in his latest ambitious project, the Horizon saga. We are thrilled to honor him with the Filmmaker Award, recognizing his exceptional contributions to the art of storytelling through sound in film and television.”

    Barber added, “Greg Hedgepath is a true titan in the world of sound. His contributions to cinema are immense, spanning decades and encompassing a remarkable range of genres. From the heart-pounding intensity of ‘Speed’ and ‘Twister’ to the nuanced drama of ‘Selma’ and ‘Straight Outta Compton’, Greg’s work has consistently elevated... Read More

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