SNOW Stockholder Alert: Robbins LLP Reminds Investors of the Class Action Lawsuit Filed Against Snowflake Inc.

Core Viewpoint - A class action lawsuit has been filed against Snowflake Inc. for allegedly misleading investors about its business prospects during a specified period, leading to significant stock price declines following the disclosure of negative financial forecasts [1][2][3]. Group 1: Allegations and Misleading Statements - The lawsuit claims that Snowflake made repeated positive statements about its business state, including customer usage and product developments, while failing to disclose material negative impacts from product efficiency gains and tiered storage pricing [2]. - It is alleged that these positive statements lacked a reasonable basis due to undisclosed factors that were expected to negatively affect consumption and revenues [2]. Group 2: Financial Disclosure and Stock Impact - On February 28, 2024, Snowflake disclosed its financial results for the quarter ended January 31, 2024, which included forecasts of increased revenue headwinds due to product efficiency gains and tiered storage pricing [3]. - Following this announcement, Snowflake's Class A common stock price fell by $41.72, or 18.14%, from $230.00 to $188.28 per share [3]. Group 3: Class Action Participation - Shareholders may be eligible to participate in the class action against Snowflake and can contact Robbins LLP if they wish to serve as lead plaintiffs [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Group 4: Company Background - Robbins LLP is noted as a leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].