Snowflake(US:SNOW) Globenewswire·2026-03-01 23:42Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Snowflake Inc. Class A common stock during the specified Class Period, indicating potential legal issues surrounding the company's disclosures and business performance [1][5]. Group 1: Class Action Details - The class action lawsuit is for purchasers of Snowflake Class A common stock between June 27, 2023, and February 28, 2024 [1]. - Investors who purchased shares during this period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A lead plaintiff must move the Court by April 27, 2026, to represent other class members in the litigation [1][3]. Group 2: Allegations Against Snowflake - The lawsuit claims that during the Class Period, Snowflake made positive statements about its business, including customer usage and product developments [5]. - However, it is alleged that the company failed to disclose material negative impacts on consumption and revenues due to product efficiency gains and tiered storage pricing [5]. - The lawsuit asserts that the positive statements made by the defendants lacked a reasonable basis, leading to investor damages when the true details became known [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its effectiveness in representing shareholder interests [4].