Snowflake Class Action Lawsuit News – Seek Counsel Potential to Make Claim, Recover Losses, Contact Johnson Fistel, LLP (SNOW)

/EIN News/ -- SAN DIEGO, March 25, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Snowflake Inc. (NYSE: SNOW). Join the Snowflake class action lawsuit to potentially recover losses. Johnson Fistel LLP, a top law firm, can help you become the lead plaintiff. Stay updated on the lawsuit by checking for the latest news.

                CLICK HERE TO SUBMIT YOUR INFORMATION NOW!

The class action is on behalf of shareholders who purchased or otherwise acquired securities between September 16, 2020 and March 2, 2022. Investors have until April 29, 2024, to move the Court to serve as lead plaintiff in this action.

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 thereby cannibalize future sales) at the end of their contracts’ terms or to refuse to renew their contracts at prior consumption levels or at all; and (iv) consequently, Snowflake’s product revenue and remaining performance obligations had been artificially inflated leading up to and during the Class Period.

Join the class action suit as potential lead plaintiff. No cost or obligation. Claim your rights.

CLICK HERE TO SUBMIT YOUR INFORMATION NOW!

Investor Action Steps: Shareholders who sustained financial losses during the designated class period, are entitled to petition the court, until April 29, 2024, to secure the position of a lead plaintiff in this proceeding. The lead plaintiff assumes the responsibility of representing the collective interests of all class members, guiding the direction of the class-action lawsuit. This pivotal role allows the lead plaintiff the autonomy to appoint a legal firm of their preference to pursue litigation in the class-action case. An investor's eligibility to partake in any prospective settlement of the class-action lawsuit is unrelated to their role as a lead plaintiff.

About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. 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, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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Johnson Fistel, LLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contact:
Johnson Fistel, LLP
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