Snap Inks $65 Million Deal to End Investors’ Ad Revenue Suit (2)

Snap Inc. agreed to a $65 million settlement over proposed class claims the technology giant misled investors about how Apple Inc. privacy changes would impact its advertising business.

The claims had winnowed to a single alleged misstatement in 2021, making continued litigation more difficult, the public pension fund leading the case said while seeking preliminary approval of the deal in the US District Court for the Central District of California.

If approved by presiding Judge George H. Wu, the settlement would end almost four years of litigation of the investors’ claims against Snap, CEO Evan Spiegel, and a former ...