Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. for alleged violations of federal securities laws during the class period from October 29, 2024, to May 20, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Reddit's executives made false or misleading statements regarding the impact of Google Search's algorithm changes on user traffic to Reddit [3]. - It is alleged that these changes led to a significant reduction in traffic to Reddit, as users were able to find answers directly on Google Search without visiting Reddit [3]. - The complaint asserts that the defendants were aware of this trend but failed to disclose it, leading to an inaccurate outlook on user rates and advertising revenues [3]. Group 2: Class Action Participation - Investors who purchased Reddit securities during the specified class period are encouraged to join the lawsuit, with a deadline of August 18, 2025, to request lead plaintiff status [4]. - The law firm representing the class action operates on a contingency fee basis, meaning they will only collect fees if the case is successful [5]. Group 3: Law Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm specializing in securities fraud class actions and has recovered hundreds of millions of dollars for investors [6].
RDDT INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Reddit, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit