SNAPPED - Snap Inc., the creator of messaging app Snapchat, and certain members of its board were hit with a derivative shareholder complaint Tuesday in California Central District Court. The case, brought by Rosen Law Firm on behalf of Tim Dodds, arises from updates made to Apple’s mobile privacy features in April 2021. The complaint contends that the defendants misled investors by downplaying the effect the new features would have on Snap’s business. Counsel have not yet appeared for the defendants. The case is 2:22-cv-01569, Dodds v. Spiegel et al. The shareholder derivative suit against Snap follows a securities suit against the company that was also filed by the Rosen Firm in November and another similar suit against Facebook parent company Meta Platforms filed by Bottini & Bottini that same month. Stay up on the latest deals and litigation with the new Law.com Radar.
EDITOR’S PICKS
WHILE YOU WERE SLEEPING
FIRM STANCE - Several Am Law 100 firms revealed plans on Wednesday to close their Russian offices or suspend operations in the country, citing events in Ukraine as the impetus behind the development, Law.com’s Bruce Love reports. Latham & Watkins, Squire Patton Boggs, Freshfields Bruckhaus Deringer, and Morgan, Lewis & Bockius on Wednesday joined a growing group of Am Law 100 firms to shutter their Russian operations, after Linklaters kicked off a flurry of Big Law departures from Russia on Friday. Eversheds Sutherland and Norton Rose Fulbright also announced plans to wind down their operations in Russia this week. Around 20 Am Law 200 firms have offices in Russia. In addition, as Law.com International’s Varsha Patel reported, Freshfields’ exit means Allen & Overy and Clifford Chance are the remaining Magic Circle firms in Russia.
