Reddit, Inc. RDDT is known for its sprawling communities and viral "Ask Me Anything" posts. Its journey has also been filled with quirky milestones and lesser-known stories.  As Reddit turns 20 years old, it remains a hub for both mainstream news and the internet's most obscure trivia. Here's a look at the social platform's best-kept secrets and odd historical footnotes.Reddit was launched on June 23, 2005, by University of Virginia roommates Steve Huffman and Alexis Ohanian. The site was built and launched ...

Core Viewpoint - A class action securities lawsuit has been filed against Reddit, Inc. alleging securities fraud that negatively impacted investors between October 29, 2024, and May 20, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that the defendants made false statements regarding the impact of changes in Google Search's algorithm, which led to a significant reduction in traffic to Reddit [2]. - It is alleged that the defendants were aware that users were finding answers directly on Google Search, leading to a decrease in visits to Reddit, contrary to their public statements about user engagement and advertising revenue [2]. - The complaint asserts that the defendants lacked a reasonable basis for their outlook on user rates and advertising revenues, rendering their public statements materially false and misleading [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 18, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members, allowing them to potentially receive compensation without financial obligation [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years, indicating its expertise in handling complex cases [4].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Reddit, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose material information that negatively impacted the company's stock value during a specified period [1][2]. Group 1: Allegations and Class Period - The class period for the allegations is from October 29, 2024, to May 20, 2025 [2]. - Allegations include that changes in Google Search's algorithm led to a significant decrease in traffic to Reddit, as users were able to find answers directly on Google without visiting Reddit [2]. - The complaint asserts that the defendants were aware of the zero-click search phenomenon but failed to disclose its impact on user engagement and advertising revenues, leading to materially false and misleading public statements [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased shares of RDDT during the class period are encouraged to register for the class action by August 18, 2025, to potentially become lead plaintiffs [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices [4]. - The firm seeks recovery for investors who suffered losses due to false or misleading statements that inflated the company's stock value [4].

Core Viewpoint - A lawsuit has been filed against Reddit, Inc. and its senior executives for potential violations of federal securities laws, specifically related to misrepresentations about user growth impacted by Google's AI technology [1][2][3]. Company Overview - Reddit operates a social news aggregation and forum platform, which has seen a decline in user traffic due to Google's AI search results providing answers directly, reducing the need for users to visit Reddit [3][4]. Legal Proceedings - The lawsuit is pending in the U.S. District Court for the Northern District of California, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. Stock Performance - Following a report on May 1, 2025, indicating a slowdown in daily active user growth, Reddit's stock price fell from $118.79 to $113.83, a decline of $4.96 or over 4% [5]. - On May 21, 2025, after an analyst cut the stock price target due to concerns over Google's AI impact, Reddit's stock dropped from $105.64 to $95.85, a decrease of $9.79 or over 9% [6].

Core Insights - Reddit's initial public offering (IPO) was set at a share price of $47 on March 21, 2024, marking a significant milestone for the company [1] - The platform has maintained a strong user base with over 108 million daily users across more than 100,000 subreddit communities, showcasing its resilience in the evolving social media landscape [2] - The rise of AI chatbots poses a significant threat to Reddit, as users may prefer quick answers from AI over engaging in discussions on the platform [3][5][6] Company Positioning - CEO Steve Huffman acknowledges the challenges posed by AI but believes they also present opportunities for Reddit to differentiate itself through user-generated content [4] - Huffman emphasizes the importance of human interaction and conversation, suggesting that Reddit's focus will remain on fostering community discussions [5] - Despite the loyalty of Reddit's user base, there is a growing trend of users opting for the convenience of AI for information retrieval, which could impact Reddit's user engagement [5][6]

Core Viewpoint - A lawsuit has been filed against Reddit, Inc. and its senior executives for potential violations of federal securities laws, specifically related to misrepresentation of user growth impacted by Google's AI technology [1][2][3]. Company Overview - Reddit operates a social news aggregation and forum platform, which has seen a decline in user growth due to Google's AI search results providing answers directly, reducing the need for users to visit Reddit [3][4]. Legal Proceedings - The lawsuit is pending in the U.S. District Court for the Northern District of California, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until August 18, 2025, to request to lead the case [2]. Stock Performance - On May 1, 2025, Reddit reported a slowdown in daily active user growth, leading to a stock price decline of $4.96, or over 4%, from $118.79 to $113.83 per share [5]. - Following an analyst downgrade on May 21, 2025, due to concerns over Google's AI impact, Reddit's stock fell by $9.79, or over 9%, from $105.64 to $95.85 per share [6].

Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. concerning allegations of securities fraud and unlawful business practices [2][3]. Financial Performance - On May 1, 2025, Reddit reported its financial results for Q1 2025, marking its third consecutive quarter of declining daily active user growth [3]. - Following the Q1 report, Reddit's stock price fell by $4.96 per share, or 4.18%, closing at $113.83 on May 2, 2025 [3]. Analyst Downgrades - On May 19, 2025, Wells Fargo analysts downgraded Reddit's stock, citing concerns over new AI features implemented by Google Search that could disrupt user traffic, resulting in a stock price drop of $5.24 per share, or 4.63%, to close at $107.99 on May 10, 2025 [4]. - On May 21, 2025, Baird analysts also downgraded Reddit's stock for similar reasons, leading to a further decline of $9.79 per share, or 9.27%, closing at $95.85 on May 21, 2025 [5].

Core Viewpoint - A class action securities lawsuit has been filed against Reddit, Inc. alleging securities fraud that negatively impacted investors between October 29, 2024, and May 20, 2025 [1][2]. Group 1: Lawsuit Details - The complaint claims that the defendants made false statements regarding the impact of changes in Google Search's algorithm, which led to a significant reduction in traffic to Reddit [2]. - It is alleged that the defendants were aware that users were finding answers directly on Google Search, leading to a decrease in visits to Reddit, which was not communicated to investors [2]. - The lawsuit asserts that the defendants lacked a reasonable basis for their outlook on user rates and advertising revenues, resulting in materially false and misleading public statements [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 18, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4]. - The firm has over 70 employees dedicated to serving clients in complex securities litigation [4].

Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. for allegedly misleading investors regarding user growth and advertising revenue, particularly in light of changes to Google's search algorithm that negatively impacted Reddit's traffic [3][4]. Group 1: Class Action Details - The class action represents investors who purchased Reddit securities between October 29, 2024, and May 20, 2025, with a deadline of August 18, 2025, to file a lead plaintiff motion [1]. - The lawsuit claims that Reddit made false statements and failed to disclose material information about the impact of Google's algorithm changes on user traffic [3]. Group 2: Allegations Against Reddit - Key allegations include that changes to Google Search's algorithm, such as the introduction of AI Overview, significantly reduced user click-throughs to Reddit [3]. - It is alleged that the increase in searches for "Reddit" did not indicate genuine user intent to visit the site, as users were finding answers directly on Google [3]. - The lawsuit asserts that these factors led to a significant drop in traffic that Reddit could not quickly offset, undermining its guidance on user growth and advertising revenue [3]. Group 3: Financial Impact - Following the release of Q1 2025 financial results on May 1, 2025, which showed a third consecutive quarter of slowing daily active user growth, Reddit's stock price declined [4]. - Analysts from Wells Fargo downgraded Reddit's stock on May 19, 2025, lowering the price target to $115 due to concerns over Google's AI features causing permanent disruption to user traffic [4]. - Baird analysts also downgraded Reddit's stock on May 21, 2025, cutting the price target to $120, citing ongoing U.S. user growth headwinds, which resulted in a stock decline of over 9% [5].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Reddit, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline on August 18, 2025, for a class action lawsuit [1][2] Group 1: Class Action Details - The class action lawsuit has been filed against Reddit, Inc. for allegedly making false and misleading statements regarding user engagement and advertising revenues during the Class Period [4] - Investors who purchased Reddit securities between October 29, 2024, and May 20, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1][2] Group 2: Allegations Against Reddit - The lawsuit claims that Reddit's management failed to disclose significant changes in Google Search's algorithm that negatively impacted traffic to Reddit [4] - It is alleged that the increase in search queries for "Reddit" was misleading, as users were finding answers directly from Google Search rather than visiting Reddit [4] - The lawsuit asserts that these undisclosed factors led to an unrealistic outlook on user rates and advertising revenues, resulting in investor damages when the truth was revealed [4] Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [3] - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3] - The founding partner, Laurence Rosen, has been recognized as a leading figure in the plaintiffs' bar, highlighting the firm's expertise in handling such cases [3]