TMX Newsfile·2026-03-07 01:08Core Viewpoint - A class action lawsuit has been filed against Snowflake Inc. on behalf of purchasers of Class A common stock during the specified Class Period, alleging that the company made misleading positive statements about its business while failing to disclose material negative impacts on consumption and revenues [1][5]. Group 1: Lawsuit Details - The class action lawsuit covers purchasers of Snowflake Class A common stock from June 27, 2023, to February 28, 2024 [1]. - The lawsuit claims that during the Class Period, Snowflake's management made positive statements regarding customer usage and product developments, which were later revealed to lack a reasonable basis due to undisclosed negative impacts on consumption and revenues [5]. Group 2: Participation Information - Investors who purchased Snowflake Class A common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly [3][6]. Group 3: Law Firm Credentials - The 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].