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Reddit Securities Fraud Lawsuit: Lead Plaintiff Deadline Approaches
ByAinvest
Saturday, Aug 2, 2025 11:48 am ET1min read
A class-action lawsuit has been filed against Reddit, Inc. (NYSE: RDDT) for alleged securities fraud between October 29, 2024 and May 20, 2025. Investors who purchased RDDT securities during this period may be entitled to compensation without payment of fees or costs. To join the lawsuit, visit https://rosenlegal.com/submit-form/?case_id=40507 or call Phillip Kim, Esq. at 866-767-3653. A lead plaintiff must move the Court no later than August 18, 2025.
Investors who purchased Reddit, Inc. (NYSE: RDDT) securities between October 29, 2024 and May 20, 2025, may have a legal opportunity to seek compensation due to alleged securities fraud. Pomerantz LLP and Glancy Prongay & Murray LLP have announced class action lawsuits against Reddit, Inc. [1][2].The complaints allege that Reddit and its officers failed to disclose significant material changes to Google Search's algorithm and features, which were causing users to stop their queries on Google Search instead of visiting Reddit. This led to a dramatic reduction in traffic to Reddit, impacting the company's user growth and advertising revenues [1][2].
Reddit's stock price experienced notable declines following these revelations. On May 1, 2025, after reporting declining daily active user growth, Reddit's stock fell by $4.96 per share. Subsequent downgrades by Wells Fargo and Baird analysts further exacerbated the stock price drop, reaching a low of $95.85 per share on May 21, 2025 [1].
Investors with losses are encouraged to contact legal firms to learn more about their rights and potential participation in the class action. The lead plaintiff deadline is August 18, 2025. For more information, visit [Rosen Legal's website](https://rosenlegal.com/submit-form/?case_id=40507) or contact Phillip Kim, Esq., at 866-767-3653 [3].
References:
[1] https://www.morningstar.com/news/globe-newswire/9502361/investor-alert-pomerantz-law-firm-reminds-investors-with-losses-on-their-investment-in-reddit-inc-of-class-action-lawsuit-and-upcoming-deadlines-rddt
[2] https://www.marketscreener.com/news/reddit-inc-rddt-investors-who-lost-money-have-opportunity-to-lead-securities-fraud-lawsuit-ce7c5fdfd189f426
[3] https://www.morningstar.com/news/pr-newswire/20250801ph42382/biohaven-ltd-bhvn-investors-who-lost-money-have-opportunity-to-lead-securities-fraud-lawsuit
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