Snowflake(US:SNOW) TMX Newsfile·2026-03-30 22:53Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Snowflake Inc. due to allegations of violations of federal securities laws, particularly concerning misleading statements about the company's product efficiency and revenue expectations [2][4]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses in Snowflake between June 27, 2023, and February 28, 2024, to discuss their legal options [1]. - There is a deadline of April 27, 2026, for investors to seek the role of lead plaintiff in a federal securities class action against Snowflake [2]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Snowflake - The complaint alleges that Snowflake and its executives made false or misleading statements regarding product efficiency gains, Iceberg Tables, and tiered storage pricing, which were expected to negatively impact consumption and revenues [4]. - On February 28, 2024, Snowflake disclosed financial results that included forecasts of increased revenue headwinds due to these factors, which shocked investors [5]. - Following this disclosure, Snowflake's Class A common stock price fell by $41.72, or 18.14%, from $230.00 to $188.28 per share [6]. Group 3: Company Leadership Changes - On the same day as the financial disclosure, Frank Slootman announced his retirement as Chief Executive Officer of Snowflake Inc. [5].