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].
RDDT Stockholders with Large Losses Should Contact Robbins LLP for Information About the Reddit, Inc. Securities Class Action Lawsuit