Class Action Filed Against Reddit, Inc. – Investors with Losses Encouraged to Contact Johnson Fistel
SAN DIEGO, July 24, 2025 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, PLLP, announces that a class action lawsuit has been filed on behalf of investors who purchased or acquired Reddit, Inc. (“Reddit” or the “Company”) (NYSE: RDDT) securities between October 29, 2024 and May 20, 2025, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than August 18, 2025.
If you have incurred significant losses and want to act as the lead plaintiff in the class action lawsuit or determine your eligibility to receive a potential recovery, please submit your details here https://www.johnsonfistel.com/investigations/reddit-inc. For more information, contact James Baker at (619) 814-4471 or jimb@johnsonfistel.com.
The Reddit class action lawsuit alleges that during the Class Period, Defendants made false and misleading statements, and failed to disclose, that: (i) changes in Google Search’s algorithm and features like AI Overview were causing users to stop their query on Google Search; (ii) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (iii) Defendants were aware that the increase in the query term “Reddit” on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (iv) this zero-click search reality was dramatically reducing traffic to Reddit in a manner the Company was unable to overcome in the short term; and (v) Defendants, therefore, lacked a reasonable basis for its outlook on user rates and advertising revenues.
Johnson Fistel, PLLP | Top Law Firm for Securities Fraud and Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Colorado, and Idaho. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, PLLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
Achievements:
In 2024, Johnson Fistel was honored to be ranked in the Top 10 Plaintiff Law Firms by the ISS Securities Class Action Services. This recognition underscores our effectiveness in advocating for investors, having recovered approximately $90,725,000 for aggrieved clients in cases where we served as lead or co-lead counsel. This notable accomplishment marks the eighth occasion our firm has been recognized as a top plaintiffs’ securities law firm in the United States, as determined by the total dollar value of final recoveries.
Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.
Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq.
(619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
