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RDDT FINAL DEADLINE: ROSEN, A LONGSTANDING LAW FIRM, Encourages Reddit, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important August 18 Deadline in Securities Class Action – RDDT
GlobeNewswire News Room· 2025-08-09 19:11
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Reddit, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline on August 18, 2025, and the potential for compensation without out-of-pocket costs [1][2]. Group 1: Class Action Details - A class action lawsuit has been filed against Reddit, Inc. for allegedly making false and misleading statements regarding user engagement and advertising revenues during the Class Period [4]. - The lawsuit claims that changes in Google Search's algorithm led to a significant reduction in traffic to Reddit, which was not disclosed by the defendants [4]. - Investors are encouraged to join the class action and can do so by contacting Rosen Law Firm for more information [2][5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [3]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3]. - Founding partner Laurence Rosen has been recognized as a Titan of Plaintiffs' Bar by Law360, highlighting the firm's expertise in this area [3].
Class Action Filed Against Reddit, Inc. – Investors with Losses Encouraged to Contact Johnson Fistel
GlobeNewswire News Room· 2025-07-24 13:49
Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. on behalf of investors who purchased its securities during the specified Class Period, alleging misleading statements and failure to disclose critical information regarding user traffic and advertising revenue impacts due to changes in Google Search algorithms [1][3]. Group 1: Lawsuit Details - The lawsuit covers investors who acquired Reddit securities between October 29, 2024, and May 20, 2025 [1]. - Investors wishing to serve as lead plaintiffs must file their motion by August 18, 2025 [1]. - Allegations include that Reddit's management made false statements about user engagement and advertising revenue, failing to disclose the impact of Google Search's algorithm changes [3]. Group 2: Allegations Against Defendants - The lawsuit claims that changes in Google Search's algorithm led to a significant drop in traffic to Reddit, as users were able to find answers directly on Google without visiting Reddit [3]. - It is alleged that the increase in search queries for "Reddit" was misleading, as it did not indicate user intent to visit the site [3]. - The defendants are accused of lacking a reasonable basis for their forecasts regarding user rates and advertising revenues due to these undisclosed issues [3].
Lost Money on Reddit, Inc. (RDDT)? Join Class Action Suit Seeking Recovery – Contact The Gross Law Firm
GlobeNewswire News Room· 2025-07-21 20:31
Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Reddit, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose material information that negatively impacted the company's stock performance [1][3]. Summary by Relevant Sections Class Period and Allegations - The class period for the lawsuit is from October 29, 2024, to May 20, 2025 [3]. - Allegations include that Reddit's management made materially false and misleading statements regarding user engagement and advertising revenues, particularly in relation to changes in Google Search's algorithm [3]. Specific Allegations - Changes in Google Search's algorithm and features, such as AI Overview, led to a decline in user queries on Google Search, which in turn affected traffic to Reddit [3]. - The increase in search queries for "Reddit" was due to users finding answers directly on Google, not because they intended to visit Reddit [3]. - The zero-click search phenomenon significantly reduced traffic to Reddit, which the company could not counteract in the short term [3]. - Management lacked a reasonable basis for their outlook on user rates and advertising revenues, rendering their public statements misleading [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by August 18, 2025, to participate in potential recovery [4]. - Registration includes enrollment in a portfolio monitoring system for updates on the case [4]. Law Firm's Commitment - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices [5].
Shareholders of Reddit, Inc. Should Contact Levi & Korsinsky Before August 18, 2025 to Discuss Your Rights - RDDT
Prnewswire· 2025-07-18 12:45
Core Viewpoint - A class action securities lawsuit has been filed against Reddit, Inc. alleging securities fraud that negatively impacted investors between October 29, 2024, and May 20, 2025 [1][2]. Group 1: Lawsuit Details - The complaint claims that the defendants made false statements regarding the impact of changes in Google Search's algorithm, which led to a significant reduction in traffic to Reddit [2]. - It is alleged that the defendants were aware that users were finding answers directly on Google Search, leading to a decrease in visits to Reddit, contrary to their public statements about user engagement and advertising revenue [2]. - The lawsuit asserts that the defendants lacked a reasonable basis for their outlook on user rates and advertising revenues, rendering their public statements materially false and misleading [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 18, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
Reddit, Inc. Class Action: Levi & Korsinsky Reminds Reddit, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of August 18, 2025 – RDDT
GlobeNewswire News Room· 2025-07-17 20:15
Core Viewpoint - A class action securities lawsuit has been filed against Reddit, Inc. alleging securities fraud that negatively impacted investors between October 29, 2024, and May 20, 2025 [1][2]. Group 1: Lawsuit Details - The complaint claims that the defendants made false statements regarding the impact of changes in Google Search's algorithm, which led to a significant reduction in traffic to Reddit [2]. - It is alleged that the defendants were aware that users were finding answers directly on Google Search, leading to a decrease in visits to Reddit, contrary to their public statements about user engagement and advertising revenue [2]. - The lawsuit asserts that the defendants lacked a reasonable basis for their outlook on user rates and advertising revenues, rendering their public statements materially false and misleading [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 18, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate in the lawsuit [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, highlighting its expertise in complex securities litigation [4].
The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of August 18, 2025 in Reddit, Inc. Lawsuit – RDDT
GlobeNewswire News Room· 2025-07-16 13:14
Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Reddit, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose material information that negatively impacted the company's stock performance [1][3]. Summary by Relevant Sections Class Period and Allegations - The class period for the lawsuit is from October 29, 2024, to May 20, 2025 [3]. - Allegations include that Reddit's management failed to disclose significant changes in Google Search's algorithm that led to decreased traffic to Reddit, which was not previously experienced [3]. - It is claimed that the increase in search queries for "Reddit" was misleading, as users were finding answers directly on Google without visiting Reddit [3]. - The lawsuit asserts that these factors resulted in a lack of reasonable basis for the company's outlook on user rates and advertising revenues, rendering public statements materially false and misleading [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by August 18, 2025, to participate in potential recovery [4]. - Upon registration, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [4]. Law Firm's Commitment - The Gross Law Firm emphasizes its mission to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [5].
Levi & Korsinsky Notifies Shareholders of Reddit, Inc.(RDDT) of a Class Action Lawsuit and an Upcoming Deadline
GlobeNewswire News Room· 2025-07-14 20:30
Core Viewpoint - A class action securities lawsuit has been filed against Reddit, Inc. due to alleged securities fraud affecting investors between October 29, 2024, and May 20, 2025 [1][2]. Group 1: Lawsuit Details - The complaint alleges that the defendants made false statements regarding the impact of changes in Google Search's algorithm, which led to a significant reduction in traffic to Reddit [2]. - It is claimed that the defendants were aware that the increase in searches for "Reddit" was due to users finding answers directly on Google, rather than intending to visit Reddit [2]. - The lawsuit asserts that the defendants lacked a reasonable basis for their outlook on user rates and advertising revenues, resulting in materially false and misleading public statements [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until August 18, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
RDDT Stockholders with Large Losses Should Contact Robbins LLP for Information About the Reddit, Inc. Securities Class Action Lawsuit
GlobeNewswire News Room· 2025-07-01 20:35
Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. for allegedly misleading investors about reduced user traffic due to changes in Google Search algorithms [1][2]. Allegations - The lawsuit claims that Reddit's management failed to disclose significant factors affecting user traffic, including changes in Google Search algorithms and features that led users to find answers without visiting Reddit [2]. - It is alleged that the increase in search queries for "Reddit" was misleading, as it did not indicate user intent to visit the site but rather a shift in how users accessed information [2]. - The complaint states that these undisclosed issues resulted in a lack of reasonable basis for Reddit's outlook on user rates and advertising revenues, leading to materially false public statements [2]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must file motions by August 18, 2025, and participation in the case is not required to be eligible for recovery [3]. - Individuals can choose to remain absent class members if they do not wish to take action [3]. Company Background - Robbins LLP is noted for its focus on shareholder rights litigation, aiming to help shareholders recover losses and improve corporate governance since 2002 [4].
RDDT Investor Notice: Robbins LLP Reminds Reddit, Inc Stockholders of the Reddit, Inc. Class Action Lawsuit
GlobeNewswire News Room· 2025-06-23 20:39
Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. for allegedly misleading investors about reduced user traffic due to changes in Google Search algorithms [1][2]. Group 1: Allegations - The complaint states that Reddit's management failed to disclose significant changes in Google Search that led to decreased user engagement on the platform [2]. - It is alleged that the increase in search queries for "Reddit" was misleading, as users were finding answers directly on Google without visiting Reddit [2]. - The lawsuit claims that these changes resulted in a dramatic reduction in traffic that the company could not address in the short term, leading to false public statements regarding user rates and advertising revenues [2]. Group 2: Legal Proceedings - Shareholders interested in serving as lead plaintiffs must file motions by August 18, 2025, to represent the class in the litigation [3]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [3]. Group 3: Company Background - Robbins LLP is noted as a leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [4].
RDDT INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Reddit, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
GlobeNewswire News Room· 2025-06-20 20:00
Core Viewpoint - A class action lawsuit has been filed against Reddit, Inc. for alleged violations of federal securities laws during the class period from October 29, 2024, to May 20, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Reddit's executives made false or misleading statements regarding the impact of Google Search's algorithm changes on user traffic to Reddit [3]. - It is alleged that these changes led to a significant reduction in traffic to Reddit, as users were able to find answers directly on Google Search without visiting Reddit [3]. - The complaint asserts that the defendants were aware of this trend but failed to disclose it, leading to an inaccurate outlook on user rates and advertising revenues [3]. Group 2: Class Action Participation - Investors who purchased Reddit securities during the specified class period are encouraged to join the lawsuit, with a deadline of August 18, 2025, to request lead plaintiff status [4]. - The law firm representing the class action operates on a contingency fee basis, meaning they will only collect fees if the case is successful [5]. Group 3: Law Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm specializing in securities fraud class actions and has recovered hundreds of millions of dollars for investors [6].