Bronstein, Gewirtz & Grossman LLC Urges Snowflake Inc. Investors to Act: Class Action Filed Alleging Investor Harm

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Snowflake securities between June 27, 2023 and February 28, 2024, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/SNOW.

Snowflake Case Details

The Complaint alleges that during the Class Period, Defendants repeatedly made positive statements about the state of its business, including positive statements about customer usage of, and new developments for, its products. The Complaint continues to allege that at the same time, Defendants failed to disclose that:
(1) product efficiency gains, Iceberg Tables and tiered storage pricing were expected to have a material negative impact on consumption and revenues;
(2) as a result, Defendants' positive statements about consumption patterns, revenues, and demand for Snowflake products lacked a reasonable basis; and
(3) Defendants denied rumors of Defendant Slootman's resignation and failed to disclose that Defendant Slootman's resignation was impending.

What's Next (Next Aktie) for Snowflake Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/SNOW, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Snowflake you have until April 27, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Snowflake Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total (Total Aktie) recovery, only if we are successful.