SNOW - SNOW Shareholders – Lead Plaintiff Deadline Set for April 29 2024 – Contact Robbins LLP for More Information | Benzinga
SAN DIEGO, April 18, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Robbins LLP reminds investors it has filed a class action lawsuit on behalf of all persons who purchased or otherwise acquired Snowflake Inc. ("Snowflake") (NYSE:SNOW) Class A stock between September 16, 2020 and March 2, 2022 (the "Class Period"). The complaint alleges violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 10b-5, promulgated thereunder. The complaint seeks relief on behalf of the named plaintiff and all other similarly situated holders of Snowflake during the Class Period. The named plaintiff is represented by Robbins LLP.
The Allegations:
Snowflake is a cloud data platform that enables its enterprise customers to consolidate data into a single source to build data-driven applications and share data. Snowflake's platform purportedly enables customers to store data that can be accessed and shared by multiple users, and its data cloud enables data storage, processing, and analytic capabilities.
The Snowflake class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Snowflake had systematically oversold capacity to customers which created a misleading appearance of the demand for Snowflake's products and ...