Snowflake(US:SNOW) Globenewswire·2026-03-04 15:34Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Snowflake Inc. due to allegations of violations of federal securities laws, particularly regarding misleading statements about product efficiency and revenue expectations [4][6]. Group 1: Legal Investigation - The law firm is encouraging investors who purchased Snowflake securities between June 27, 2023, and February 28, 2024, to discuss their legal rights [1][4]. - A federal securities class action has been filed against Snowflake, with a deadline of April 27, 2026, for investors to seek the role of lead plaintiff [4][9]. Group 2: Allegations Against Snowflake - The complaint alleges that Snowflake and its executives made false or misleading statements and failed to disclose that product efficiency gains and tiered storage pricing would negatively impact consumption and revenues [6]. - On February 28, 2024, Snowflake disclosed financial results that included forecasts of increased revenue headwinds due to these factors, which led to a significant drop in stock price [7][8]. Group 3: Stock Price Impact - Following the negative news on February 28, 2024, Snowflake's Class A common stock fell by $41.72, or 18.14%, closing at $188.28 per share [8].