Snap Inc. signed a preliminary agreement to pay $187.5 million to settle a class action lawsuit filed against them. In 2017, investors filed the lawsuit against the company following its initial public offering. They said Snap concealed negative information ahead of going public about Instagram being a threat. According to Business Insider, the settlement seems to only be awaiting court approval to finalize. Snap has struggled since going public in March 2017, hovering around $17 a share.