SNOW - Snowflake Faces Class Action Lawsuit Contact Johnson Fistel to Secure Your Rights Now | Benzinga
SAN DIEGO, March 01, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP notifies investors of Snowflake Inc. (NYSE:SNOW) that a securities class action lawsuit has been filed.
Click Here to Provide Your Information
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 services; (ii) Snowflake had provided significant discounts to its customers prior to its initial public offering ("IPO") that temporarily boosted sales but would not be sustainable after the IPO and/or necessitate platform efficiency adjustments that negatively impacted client consumption and Snowflake's revenue and profit margins; (iii) as a result, Snowflake's customers were poised to roll over a material amount of unused credits (and ...