Core Viewpoint - A class action securities lawsuit has been filed against Reddit, Inc. for alleged securities fraud affecting investors between October 29, 2024, and May 20, 2025 [1][2]. Group 1: Lawsuit Details - The complaint alleges that the defendants made false statements regarding the impact of changes in Google Search's algorithm, which led to a significant reduction in traffic to Reddit [2]. - It is claimed that the defendants were aware that users were finding answers directly on Google Search, leading to a decrease in visits to Reddit, contrary to their public statements about user rates and advertising revenues [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 18, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
August 18, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against RDDT