The probes, disclosed last year, looked into whether Snap misled investors on how competition from Facebook’s Instagram had impacted its app Snapchat’s growth. A separate class-action lawsuit from some investors continues. Snap stock was down 5.25 per cent at time of publication. (Reuters)

Talking point: Snap may now be facing less scrutiny from regulators—the company said in its filing that it still believes the class action’s claims are “meritless”—but its stock still suffered after it reported its third-quarter earnings Tuesday. Despite posting lower-than-expected losses and increases in its user base, analysts were disappointed by its fourth-quarter revenue prediction of US$540 million to US$560 million. But it was still able to increase its user base to 210 million daily active users—its third consecutive quarter of growth—and a revenue of US$446 million, an increase of almost 50 per cent from the year previous.