TTD Investors Have the Opportunity to Lead The Trade Desk Securities Fraud Lawsuit with Faruqi & Faruqi, LLP
If you purchased or acquired securities in Trade Desk between May 9, 2024 and February 12, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - April 16, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against The Trade Desk, Inc. ('Trade Desk' or the 'Company') (NASDAQ: TTD) and reminds investors of the April 21, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Trade Desk was experiencing significant, ongoing, self-inflicted execution challenges rolling out Kokai, including transitioning clients to Kokai from the Company's older platform Solimar; (2) such execution challenges meaningfully delayed the Kokai Rollout; (3) Trade Desk's inability to effectively execute the Kokai Rollout negatively impacted the Company's business and operations, particularly revenue growth; and (4) as a result of the above, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The truth emerged after markets closed on February 12, 2025, when Trade Desk issued a press release reporting fourth quarter 2024 revenue of $741 million-below the Company's previously issued guidance of $756 million and analysts' estimates of $759.8 million. On an earnings call held the same day, the Company's CEO admitted that Trade Desk had not yet transitioned all of its clients to Kokai, and was still 'maintaining 2 systems, Solimar and Kokai.' The CEO further conceded that 'Kokai rolled out slower than anticipated,' but also 'in some cases, the slower Kokai rollout was deliberate.'
On this news, the price of Trade Desk Class A common stock dropped $40.31 per share, or more than 32%, from a closing price of $122.23 per share on February 12, 2025, to a closing price of $81.92 per share on February 13, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Trade Desk's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Trade Desk class action, go to www.faruqilaw.com/TTD or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248658
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