RDDT Investors Have Opportunity to Lead Reddit, Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Reddit, Inc. ('Reddit' or 'the Company') (NYSE: RDDT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between October 29, 2024 and May 20, 2025, inclusive (the 'Class Period'), are encouraged to contact the firm before August 18, 2025.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Reddit's traffic was negatively impacted by changes to Google's search algorithm and features like AI Overview. The Company's traffic was impacted in materially different ways than it had been by prior Google changes. The Company was aware that Google users added 'Reddit' to their search hoping to get a answer to their question without actually visiting Reddit. The Company failed to overcome the challenges caused by Google in the short term. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Reddit, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
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