SNOW - SNOW INVESTOR ALERT: Bronstein Gewirtz & Grossman LLC Announces that Snowflake Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit! | Benzinga
NEW YORK, March 05, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Snowflake Inc. ("Snowflake" or "the Company") (NYSE:SNOW) and certain of its officers.
Class Definition:
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 September 9, 2020 and March 2, 2022, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/SNOW.
Case Details:
Snowflake is a data cloud platform that enables customers to consolidate data into a single source, build data-driven applications, and share data.
The Complaint alleges that throughout the Class Period Snowflake made materially false and misleading statements because Snowflake knew or deliberately disregarded and failed to disclose the following adverse facts about the Snowflake's business, operations, and prospects:
(1) that Snowflake had systematically oversold capacity to customers, which created a misleading appearance of the demand for Snowflake's products and services;
(2) that Snowflake had provided significant discounts to its customers prior to the Initial Public Offering (IPO) that temporarily boosted sales but would not be sustainable after the ...