Snap’s $65 Million Investor Settlement Gets Initial Court Nod

Snap Inc. has gained a US judge’s preliminary approval of its $65 million agreement to end a proposed class action that claimed the technology giant misled investors about how Apple Inc. privacy changes would impact its advertising business.

US District Court for the Central District of California Judge George H. Wu‘s initial assent at a hearing Thursday comes after four years of litigation involving Snap, CEO Evan Spiegel, and a former executive. That included a US Court of Appeals for the Ninth Circuit revival on an allegation of former Chief Business Officer Jeremi Gorman’s intent to mislead in 2021 ...