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ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages Reddit, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – RDDT
GlobeNewswire News Room·2025-06-26 17:58

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]