Snowflake Faces Class Action Lawsuit; Investors Encouraged to Join
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy SNOW?
Source: Globenewswire
- Class Action Filed: Bronstein, Gewirtz & Grossman, LLC has initiated a class action lawsuit against Snowflake Inc., seeking damages for investors who purchased securities between June 27, 2023, and February 28, 2024, highlighting significant investor concerns regarding financial transparency.
- Allegations Detailed: The complaint alleges that during the class period, Snowflake made repeated positive statements about its business while failing to disclose material negative impacts from product efficiency gains and pricing strategies, indicating serious deficiencies in corporate information disclosure.
- Management Changes Concealed: The lawsuit also claims that the impending resignation of executive Slootman was not disclosed, exacerbating investor worries about corporate governance and transparency, which could lead to stock price volatility.
- Investor Action Encouraged: Investors are urged to apply to be lead plaintiffs by April 27, 2026, indicating that the outcome of this case could have profound implications for Snowflake's future stock price and investor confidence.
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Analyst Views on SNOW
Wall Street analysts forecast SNOW stock price to rise
33 Analyst Rating
30 Buy
3 Hold
0 Sell
Strong Buy
Current: 162.330
Low
237.00
Averages
278.19
High
312.00
Current: 162.330
Low
237.00
Averages
278.19
High
312.00
About SNOW
Snowflake Inc. is a data cloud and artificial intelligence company. Its platform is the technology that powers the AI Data Cloud, enabling customers to consolidate data into a single source of truth to drive meaningful insights, apply artificial intelligence (AI) to solve business problems, build data applications, and share data and data products. It provides its platform through a customer-centric, and consumption-based business model. Its cloud-native architecture consists of three independently scalable but logically integrated layers across compute, storage, and cloud services. The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases with minimal latency. The storage layer ingests massive amounts and varieties of structured, semi-structured, and unstructured data to create a unified data record. Its ClearQuery platform allows users to rapidly search, explore, and analyze their data using natural language queries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Legal Investigation Launched: Faruq & Faruqi, LLP is investigating potential claims against Snowflake Inc. for investors who purchased securities between June 27, 2023, and February 28, 2024, highlighting the firm's commitment to investor rights.
- Investor Contact Information: The firm encourages affected investors to contact partner Josh Wilson directly, providing multiple contact options to facilitate consultations, aiming to help them understand their legal choices.
- Class Action Deadline: Investors should note that the deadline to seek the role of lead plaintiff in the federal securities class action against Snowflake is April 27, 2026, emphasizing the importance of timely action.
- Role of Securities Law Firm: As a leading national securities law firm, Faruqi & Faruqi's investigation indicates the critical role legal institutions play in protecting investor rights, which may impact Snowflake's market reputation and stock performance.
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Snowflake Faces Class Action Lawsuit; Investors Encouraged to Join
- Class Action Filed: Bronstein, Gewirtz & Grossman, LLC has initiated a class action lawsuit against Snowflake Inc., seeking damages for investors who purchased securities between June 27, 2023, and February 28, 2024, highlighting significant investor concerns regarding financial transparency.
- Allegations Detailed: The complaint alleges that during the class period, Snowflake made repeated positive statements about its business while failing to disclose material negative impacts from product efficiency gains and pricing strategies, indicating serious deficiencies in corporate information disclosure.
- Management Changes Concealed: The lawsuit also claims that the impending resignation of executive Slootman was not disclosed, exacerbating investor worries about corporate governance and transparency, which could lead to stock price volatility.
- Investor Action Encouraged: Investors are urged to apply to be lead plaintiffs by April 27, 2026, indicating that the outcome of this case could have profound implications for Snowflake's future stock price and investor confidence.
See More
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- Allegations Details: The complaint alleges that during the class period, defendants made materially false and/or misleading statements and failed to disclose that product efficiency gains, including Iceberg Tables and tiered storage pricing, were expected to negatively impact consumption and revenues, leading to investor misjudgment about the company's prospects.
- Critical Deadline: Shareholders must register by April 27, 2026, to participate in the class action, as missing this deadline will forfeit their opportunity to seek lead plaintiff status, highlighting the urgency and potential legal consequences of the lawsuit.
- Participation Method: Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle, demonstrating ongoing support and attention to investor interests in this litigation.
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- Legal Investigation Launched: Faruq & Faruqi, LLP is investigating potential claims against Snowflake Inc. for investors who purchased securities between June 27, 2023, and February 28, 2024, highlighting the firm's commitment to investor rights.
- Investor Contact Information: The firm encourages affected investors to contact partner Josh Wilson directly, providing multiple contact options to facilitate consultations, aiming to help them understand their legal choices.
- Class Action Deadline: Investors should note that the deadline to seek the role of lead plaintiff in the federal securities class action against Snowflake is April 27, 2026, emphasizing the importance of timely action.
- Role of Securities Law Firm: As a leading national securities law firm, Faruqi & Faruqi's investigation indicates the critical role legal institutions play in protecting investor rights, which may impact Snowflake's market reputation and stock performance.
See More
Snowflake Faces Class Action Lawsuit; Investors Encouraged to Join
- Class Action Filed: Bronstein, Gewirtz & Grossman, LLC has initiated a class action lawsuit against Snowflake Inc., seeking damages for investors who purchased securities between June 27, 2023, and February 28, 2024, highlighting significant investor concerns regarding financial transparency.
- Allegations Detailed: The complaint alleges that during the class period, Snowflake made repeated positive statements about its business while failing to disclose material negative impacts from product efficiency gains and pricing strategies, indicating serious deficiencies in corporate information disclosure.
- Management Changes Concealed: The lawsuit also claims that the impending resignation of executive Slootman was not disclosed, exacerbating investor worries about corporate governance and transparency, which could lead to stock price volatility.
- Investor Action Encouraged: Investors are urged to apply to be lead plaintiffs by April 27, 2026, indicating that the outcome of this case could have profound implications for Snowflake's future stock price and investor confidence.
See More
Notice to Snowflake Inc. Shareholders Regarding Class Action
- Lawsuit Background: The Gross Law Firm has issued a notice encouraging shareholders who purchased Snowflake Inc. (NYSE: SNOW) shares between June 27, 2023, and February 28, 2024, to contact them regarding potential lead plaintiff status, indicating significant legal risks for the company.
- Allegations Details: The complaint alleges that during the class period, defendants made materially false and/or misleading statements and failed to disclose that product efficiency gains, including Iceberg Tables and tiered storage pricing, were expected to negatively impact consumption and revenues, leading to investor misjudgment about the company's prospects.
- Critical Deadline: Shareholders must register by April 27, 2026, to participate in the class action, as missing this deadline will forfeit their opportunity to seek lead plaintiff status, highlighting the urgency and potential legal consequences of the lawsuit.
- Participation Method: Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle, demonstrating ongoing support and attention to investor interests in this litigation.
See More
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- High Databricks Allocation: Databricks represents RVI's largest holding at 23.24%, making it the primary driver of recent investor interest, reflecting market anticipation for the company's potential IPO.
- Morningstar's Positive Analysis: Morningstar labeled Databricks as the “cleanest institutional entry point,” noting its annual recurring revenue exceeded $5.4 billion in Q4 2025 with a 65% year-over-year growth rate, significantly outperforming Snowflake's 29%, highlighting its competitive market strength.
- Diversified Investment Portfolio: In addition to Databricks, RVI holds stakes in several private companies like Revolut and Mercor, while maintaining nearly 20% of its assets in cash equivalents for future investments, showcasing its flexible investment strategy.
See More
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RVI Stock Performance: RVI shares surged 11% on Thursday, contributing to a total weekly gain of nearly 37%, marking its best performance since listing, driven by investor interest in the Robinhood-backed venture fund.
DataBricks' Market Position: DataBricks, holding the largest stake in RVI at 23.24%, is recognized as a leading AI IPO candidate, with expectations of significant growth and a potential public offering in 2026.
Investor Sentiment: Retail sentiment towards RVI and DataBricks is described as "extremely bullish," indicating strong investor interest ahead of a potential IPO, with expectations of high returns.
Future Prospects: RVI is actively engaging with top private tech companies and expanding its portfolio, including a recent introduction of a cybersecurity product, while maintaining a significant cash reserve for future allocations.
See More
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Potential Benefits of AI: Artificial intelligence is expected to transform economies, enhance productivity, and contribute to advancements in healthcare and environmental solutions.
Concerns Surrounding AI: There are significant fears regarding AI's impact on jobs, privacy, profit margins, and the integrity of information.
Contrasting Perspectives: The narrative around AI fluctuates between optimism about its capabilities and a sense of impending doom regarding its consequences.
Rapid Shifts in Sentiment: Public perception of AI can change dramatically within short timeframes, reflecting both hope and anxiety.
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