The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Snowflake Inc. who purchased Common stock between June 27, 2023 and February 28, 2024.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) product efficiency gains, Iceberg Tables, an open-source table format for large datasets that allow customers to store data in their own cloud, and tiered storage pricing were expected to have a material negative impact on consumption and revenues, and (2) as a result, defendants’ positive statements about consumption patterns, revenues, and demand for Snowflake products lacked a reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 27, 2026 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
