TMX Newsfile·2026-03-08 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 Snowflake's management made positive statements regarding customer usage and product developments, while not disclosing that certain product efficiency gains and pricing strategies would negatively impact revenues [5]. - Investors are encouraged to join the class action without incurring out-of-pocket fees through a contingency fee arrangement [2]. Group 2: Legal Representation - The Rosen Law Firm, which is leading the class action, has a strong track record in securities class actions and has recovered significant amounts for investors in the past [4]. - Investors wishing to serve as lead plaintiffs must file their motion by April 27, 2026 [1][3]. - The firm has been recognized for its success in securities class action settlements, including a notable settlement against a Chinese company [4].