#United States #New York #Class Action #Gross Law Firm #Inc. #Reddit

Important Notice for Reddit, Inc. Shareholders

The Gross Law Firm has issued a crucial reminder to shareholders of Reddit, Inc. (NYSE: RDDT) regarding a pending class action lawsuit. This notice specifically targets those who purchased Reddit shares during a defined class period and highlights the deadline for becoming a lead plaintiff, which is set for August 18, 2025.

Details of the Class Action Lawsuit

The background of the lawsuit reveals serious concerns about the accuracy of statements made by the company regarding its business performance. The class period spans from October 29, 2024, to May 20, 2025. The core allegations include that the defendants made materially false and misleading statements. They failed to disclose essential information regarding the performance decline of Reddit's platform, specifically related to changes in Google Search's algorithms and its impact on website traffic and advertising revenue.

Key Allegations

1. Misleading Statements: The lawsuit claims that executives at Reddit issued misleading statements about user engagement and traffic metrics while being aware of the dramatic impact of Google Search's algorithm changes.
2. Zero-Click Searches: Defendants allegedly knew that the surge in users searching for “Reddit” was misleadingly interpreted and did not indicate actual user intent to visit Reddit’s platform. Instead, many users received information directly from Google’s results without navigating to Reddit.
3. Traffic Decline: It is argued that this new search engine reality led to a significant traffic drop to Reddit, negatively affecting the company's revenue outlook.
4. Lack of Reasonable Basis: As a result, the statements made by Reddit's management lacked a reasonable basis and were fundamentally misleading.

Registration for the Lawsuit

Shareholders who acquired RDDT shares during the specified timeframe are strongly encouraged to register as potential lead plaintiffs in this lawsuit. Participation in the action does not necessitate being the lead plaintiff, and shareholders are urged to act promptly to ensure their rights are protected.

To register, visit the Gross Law Firm's registration page. Following registration, investors will receive essential updates regarding the case’s progress via an integrated portfolio monitoring system.

Next Steps

To maximize participation rights in this class action, shareholders should consider the following:

• - Complete your registration before the impending deadline of August 18, 2025.
• - Stay informed with the developments of the case by subscribing to the portfolio monitoring service provided by the Gross Law Firm.
• - Remember that there are no fees or obligations associated with participating in this lawsuit.

Contact Information

The Gross Law Firm, known for its dedication to protecting investor rights and its strong track record in class action lawsuits, is prepared to assist all affected shareholders. For inquiries or further assistance, shareholders should reach out to the firm:

• - Address: 15 West 38th Street, 12th floor, New York, NY 10018
• - Email: [email protected]
• - Phone: (646) 453-8903

This class action lawsuit represents a significant opportunity for shareholders to pursue justice and potential recovery for their losses due to misleading corporate behavior. Don’t miss out on your chance to be a part of this important legal action.