Snowflake faces class action over alleged investor misstatements after 18.14% stock drop

Reuters

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<a href="https://laohu8.com/S/SNOW">Snowflake</a> faces class action over alleged investor misstatements after 18.14% stock drop

A securities class action was filed on behalf of investors who bought Snowflake Class A shares between June 27, 2023, and February 28, 2024. The complaint alleges Snowflake made positive statements about product usage and demand while not disclosing expected revenue headwinds tied to product efficiency gains, tiered storage pricing, and customers’ use of Iceberg Tables. Snowflake disclosed these headwinds during a February 28, 2024 earnings release and related SEC filing, followed by comments on an investor call. After that disclosure, Snowflake shares fell USD 41.72, or 18.14%, to USD 188.28 on February 29, 2024. A deadline of April 27, 2026 was set for motions to seek appointment as lead plaintiff.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Snowflake Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603181721PR_NEWS_USPR_____LA13751) on March 18, 2026, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Snowflake Inc. published the original content used to generate this news brief via PR Newswire (Ref. 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The complaint alleges Snowflake made positive statements about product usage and demand while not disclosing expected revenue headwinds tied to product efficiency gains, tiered storage pricing, and customers’ use of Iceberg Tables. Snowflake disclosed these headwinds during a February 28, 2024 earnings release and related SEC filing, followed by comments on an investor call. After that disclosure, Snowflake shares fell USD 41.72, or 18.14%, to USD 188.28 on February 29, 2024. A deadline of April 27, 2026 was set for motions to seek appointment as lead plaintiff.\n      \n\n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Snowflake Inc. published the original content used to generate this news brief via PR Newswire (Ref. 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