Sign in Subscribe
Class action lawsuits

Class Action Lawsuit Filed Against Reddit, Inc.

Strategic Insights

— 1 min read

Reddit's alleged failure to disclose the impact of Google's algorithm changes on its user rates and advertising revenues has led to a class action lawsuit. The lawsuit claims that defendants made false and misleading statements, causing investors to suffer damages. The lead plaintiff deadline is August 18, 2025, and investors who purchased Reddit securities between October 29, 2024, and May 20, 2025, may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement.

Key Takeaways:

  • A class action lawsuit has been filed against Reddit, Inc. (NYSE: RDDT) alleging that the company made false and misleading statements about the impact of Google's algorithm changes on its user rates and advertising revenues.
  • The lawsuit claims that defendants lacked a reasonable basis for their outlook on user rates and advertising revenues, causing investors to suffer damages.
  • Investors who purchased Reddit securities between October 29, 2024, and May 20, 2025, may be entitled to compensation through a contingency fee arrangement.
  • The lead plaintiff deadline is August 18, 2025.
  • Rosen Law Firm, a global investor rights law firm, is representing investors in the class action and encourages them to select qualified counsel with a track record of success in leadership roles.
  • The firm has a history of achieving significant securities class action settlements, including the largest ever settlement against a Chinese Company at the time.

Statistics:

  • The lawsuit covers the period from October 29, 2024, to May 20, 2025.
  • The lead plaintiff deadline is August 18, 2025.
  • Rosen Law Firm has secured over $438 million for investors in 2019 alone.
  • The firm has been ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017.
  • The firm has recovered hundreds of millions of dollars for investors.

Sources:

  • GlobeNewswire, "Rosen Law Firm Reminds Reddit, Inc. (NYSE: RDDT) Investors of Important Deadline in Securities Class Action Lawsuit"
  • GlobeNewswire, "Rosen Law Firm Reminds Reddit, Inc. (NYSE: RDDT) Investors of Important Deadline in Securities Class Action Lawsuit, Initial Lead Plaintiff Deadline is August 18, 2025"
  • LinkedIn, Twitter, and Facebook posting schedule and contact information for Rosen Law Firm.
  • Law360, "Laurence Rosen: Titans of the Plaintiffs Bar 2020"

Read more