RDDT Investors Have Opportunity to Join Reddit, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Reddit, Inc. ('Reddit' or 'the Company') (NYSE: RDDT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Despite a significant portion of Reddit's traffic coming from individuals performing Google searches, the Company claimed that Google's shift to AI in search results would not have a material impact on its user growth. Analyst Baird cut its price target for the Company's shares on May 21, 2025, citing its concerns on the very issue of Google's AI answers causing users to stop visiting Reddit. Based on this news, shares of Reddit fell by over 9%.
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 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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