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].
Reddit, Inc. Class Action: The Gross Law Firm Reminds Reddit, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of August 18, 2025 – RDDT