Investor Alert: Deadline Approaching to Join Reddit, Inc. (RDDT) Class Action - Contact Levi & Korsinsky
https://zlk.com/pslra-1/reddit-inc-lawsuit-submission-form?prid=157229&wire=5&utm_campaign=25
or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against Reddit, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between October 29, 2024 and May 20, 2025.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google Search; (ii) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (iii) defendants were aware that the increase in the query term "Reddit" on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (iv) this zero-click search reality was dramatically reducing traffic to Reddit in a manner the Company was unable to overcome in the short term; (v) defendants, therefore, lacked a reasonable basis for their outlook on user rates and advertising revenues; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Reddit, Inc. stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/reddit-inc-lawsuit-submission-form?prid=157229&wire=5&utm_campaign=25 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
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