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]. Group 1: Allegations - The complaint alleges that during the class period from October 29, 2024, to May 20, 2025, Reddit's management made materially false and misleading statements [3]. - Key allegations include that changes in Google Search's algorithm led to a significant drop in traffic to Reddit, as users were able to find answers directly on Google without visiting Reddit [3]. - It is claimed that the defendants were aware of the zero-click search phenomenon, which was adversely impacting Reddit's user engagement and advertising revenues [3]. Group 2: Class Action Details - Shareholders who purchased RDDT shares during the class period are encouraged to register for the class action, with a deadline set for August 18, 2025 [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [4]. - There is no cost or obligation for shareholders to participate in this class action [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].
The Gross Law Firm Reminds Reddit, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of August 18, 2025 – RDDT