Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Reddit, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during a specified class period, which has impacted shareholder value [1][2]. Allegations - The lawsuit claims that during the class period from October 29, 2024, to May 20, 2025, Reddit's management failed to disclose significant changes in Google Search's algorithm that led to a decline in user traffic to Reddit [1]. - It is alleged that the changes in Google's algorithm, including features like AI Overview, caused users to stop their queries on Google Search, which was not previously experienced [1]. - The complaint states that the increase in search queries for "Reddit" was misleading, as users were finding answers directly from Google without visiting Reddit, indicating a zero-click search phenomenon that adversely affected Reddit's traffic [1]. - The defendants are accused of lacking a reasonable basis for their forecasts on user rates and advertising revenues, leading to materially false public statements [1]. Next Steps for Shareholders - Shareholders who purchased RDDT shares during the class period are encouraged to register for the class action by August 18, 2025, to potentially become lead plaintiffs [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle, with no cost or obligation to participate [2]. About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [3].

Core Insights - The Canadian online gambling market is experiencing significant growth, with Reddit serving as a vital platform for players seeking genuine insights into new online casinos for 2025 [2][4][31] - Key qualities that distinguish top online casinos include game variety, transparent bonuses, security measures, and user experience [6][10][12][14] Market Overview - The online gambling sector in Canada is expanding due to technological advancements, increased mobile accessibility, and a shift towards digital entertainment [4][26] - Reddit discussions provide unfiltered opinions from players, focusing on critical factors such as game diversity, bonus transparency, payout speeds, and customer support [5][6] Casino Features - Top online casinos in Canada offer extensive game libraries, including thousands of titles across various categories, with a focus on high return-to-player rates [8][9] - Bonuses and promotions are essential, with players favoring substantial welcome packages and transparent terms, typically with wagering requirements around 35x [10][11] - Security is paramount, with players prioritizing platforms that ensure robust encryption, fast payouts, and licensing from reputable authorities [12][13] User Experience - A seamless user experience is crucial, with mobile-optimized interfaces and multilingual support being highly valued by players [14][15] - Round-the-clock customer support is a hallmark of top casinos, ensuring prompt issue resolution [15] Legal Framework - The legal landscape for online gambling in Canada varies by province, with Ontario leading the way in establishing a regulated market that emphasizes transparency and player protection [16][18] - Players are encouraged to choose licensed platforms to ensure safety and fairness, avoiding unregulated options [18] Community Influence - Reddit plays a significant role in shaping player experiences, with users sharing insights, successes, and warnings about various platforms [20][21] - The community promotes responsible gambling practices, encouraging players to set budgets and utilize tools for managing spending [22][23] Future Trends - The online casino market in Canada is expected to continue thriving, with a focus on mobile optimization, fair promotions, diverse game offerings, and commitment to responsible gambling [24][25][26]

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 omissions that affected the company's stock performance during a specified period [1][3]. Summary by Relevant Sections Class Period and Allegations - The class period for the lawsuit is from October 29, 2024, to May 20, 2025 [3]. - Allegations include that Reddit's management failed to disclose significant changes in Google Search's algorithm that led to a decrease in traffic to Reddit, which was not comparable to previous instances of reduced traffic [3]. - It is claimed that the increase in search queries for "Reddit" was misleading, as users were finding answers directly on Google without visiting Reddit, leading to a dramatic reduction in traffic that the company could not mitigate in the short term [3]. - The defendants are accused of lacking a reasonable basis for their forecasts on user rates and advertising revenues, resulting in materially false and misleading public statements [3]. Next Steps for Shareholders - Shareholders who purchased RDDT shares during the class period are encouraged to register for the class action by August 18, 2025, to potentially be appointed as lead plaintiffs [4]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [4]. Law Firm's Commitment - The Gross Law Firm is recognized for its commitment to protecting investors' rights against deceit and fraud, aiming to ensure companies engage in responsible business practices [5].

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]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of California, titled Tamraz, Jr. v. Reddit, Inc., et al., No. 25-cv-05144 [2]. - Investors have until August 18, 2025, to request to lead the case [2]. Group 2: Allegations Against Reddit - The complaint alleges that Reddit downplayed the negative impact of Google's AI on its user growth, which has been significant as users can find answers directly through Google without visiting Reddit [3][4]. - The lawsuit claims violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. Group 3: Stock Performance - Following the announcement of a slowdown in daily active user growth on May 1, 2025, Reddit's stock price fell by $4.96, or over 4%, from $118.79 to $113.83 per share [5]. - On May 21, 2025, after an analyst cut the stock price target due to concerns over Google's AI, Reddit's stock dropped by $9.79, or over 9%, from $105.64 to $95.85 per share [6].

Group 1 - The DJS Law Group has announced a class action lawsuit against Reddit, Inc. for violations of federal securities laws, specifically targeting shareholders who purchased securities between October 29, 2024, and May 20, 2025 [1][2] - The lawsuit alleges that Reddit made false and misleading statements regarding the impact of changes to Google's search algorithm on its traffic, which was affected in materially different ways than previous changes [2] - The company was aware that users were searching for "Reddit" on Google to find answers without visiting the site, indicating a significant challenge in traffic management due to Google's changes [2] Group 2 - DJS Law Group specializes in securities class actions and corporate governance litigation, focusing on enhancing investor returns through balanced counseling and aggressive advocacy [4] - The firm represents some of the largest hedge funds and alternative asset managers, emphasizing the value of litigation claims as significant assets [4]

Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. for allegedly misleading investors about reduced user traffic due to changes in Google Search algorithms [1][2]. Allegations - The lawsuit claims that Reddit's management failed to disclose significant factors affecting user traffic, including changes in Google Search algorithms and features that led users to find answers without visiting Reddit [2]. - It is alleged that the increase in search queries for "Reddit" was misleading, as it did not indicate user intent to visit the site but rather a shift in how users accessed information [2]. - The complaint states that these undisclosed issues resulted in a lack of reasonable basis for Reddit's outlook on user rates and advertising revenues, leading to materially false public statements [2]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must file motions by August 18, 2025, and participation in the case is not required to be eligible for recovery [3]. - Individuals can choose to remain absent class members if they do not wish to take action [3]. Company Background - Robbins LLP is noted for its focus on shareholder rights litigation, aiming to help shareholders recover losses and improve corporate governance since 2002 [4].

Core Insights - Reddit, Inc. is celebrating its 20th anniversary as a significant platform for both mainstream news and niche internet content [1] Company History - Reddit was launched on June 23, 2005, by Steve Huffman and Alexis Ohanian, who were roommates at the University of Virginia [5] - The site was developed and launched in just 20 days, following encouragement from Y Combinator's Paul Graham [5] - The first 1,000 visitors were attracted after Graham mentioned Reddit in a popular essay on startups [5] - The mascot, Snoo, was created by co-founder Ohanian before the platform was even named [5] - Early promotional efforts included placing stickers around Boston and creating fake accounts to simulate popularity [5] Key Milestones - Reddit began accepting Bitcoin for Premium subscriptions in 2013, marking an early entry into cryptocurrency [5] - The most popular "Ask Me Anything" (AMA) post in 2021 received over 90,000 upvotes, featuring a lobster diver who survived being inside a whale [5] - The most commented post ever garnered over two million comments [5] User Engagement - Reddit hosts over 16 billion comments annually, averaging 45 million comments per day [5] - The most popular subreddit is /r/announcements, with over 100 million subscribers [5] - 61% of Reddit users are male, according to Statista [5] - Canada has the highest Reddit penetration rate, with nearly 45% of its population aged 13 and older using the platform [5] - As of 2025, Reddit has approximately 1.1 billion monthly active users, making it one of the largest social platforms globally [5] User Demographics - The average session duration on Reddit is about 16 minutes and 41 seconds, with users viewing an average of 5.26 pages per visit [5] - Users aged 13 to 24 years represent the fastest-growing demographic, with a 25% increase in sign-ups in 2024 [5] - Reddit is the most preferred platform among tech-savvy users aged 18-34 [5] Financial Performance - Reddit's fourth-quarter 2024 revenue reached $427.7 million, reflecting a 71% year-over-year increase [5] - The company's market capitalization is approximately $26.3 billion following its IPO in March 2024 [5] - Annual revenue for Reddit hit $1.3 billion in 2024, primarily driven by advertising [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 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].