Group 1 - A class action has been filed against Reddit, Inc. on behalf of investors who purchased securities between October 29, 2024, and May 20, 2025 [1] - The allegations include that Reddit misled investors about reduced user traffic due to changes in Google Search's algorithm and features, which led to a significant decline in traffic to the Reddit website [2] - The complaint states that the defendants were aware that increased search queries for "Reddit" were due to users finding answers directly on Google, rather than intending to visit Reddit, which contributed to the misleading public statements [2] Group 2 - Shareholders may be eligible to participate in the class action and can contact Robbins LLP for more information on serving as lead plaintiff [3] - The representation in the class action is on a contingency fee basis, meaning shareholders will not incur fees or expenses [4] - Robbins LLP has been dedicated to helping shareholders recover losses and improve corporate governance since 2002 [4]
Reddit, Inc. (RDDT) Investor Notice: Robbins LLP Informs Stockholders of the Class Action Lawsuit Against Reddit, Inc.