Reddit, Inc. (RDDT) Investor Notice: Robbins LLP Informs Stockholders of the Class Action Lawsuit Against Reddit, Inc.
Reddit, Inc. (RDDT) Investor Notice: Robbins LLP Informs Stockholders of the Class Action Lawsuit Against Reddit, Inc. |
| [18-June-2025] |
SAN DIEGO, June 18, 2025 /PRNewswire/ -- Robbins LLP Informs stockholders that a class action was filed on behalf of all investors who purchased or acquired Reddit, Inc (NYSE) securities between October 29, 2024 and May 20, 2025. Reddit is a social media platform and forum-style website where users share and discuss content through posts and comments.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations That Reddit, Inc. (RDDT) Misled Investors Regarding Reduced User Traffic According to the complaint, during the class period, defendants failed to disclose that: (i) changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google Search; (ii) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (iii) defendants were aware that the increase in the query term "Reddit" on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (iv) this zero-click search reality was dramatically reducing traffic to Reddit in a manner the Company was unable to overcome in the short term; (v) defendants, therefore, lacked a reasonable basis for their outlook on user rates and advertising revenues; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times. When the truth was revealed, Reddit Inc.'s stock fell, harming investors. What Now: You may be eligible to participate in the class action against Reddit, Inc. Shareholders who want to serve as lead plaintiff for the class should contact Robbins LLP for information. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Reddit, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
SOURCE Robbins LLP | ||
Company Codes: NYSE:RDDT |
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