According to the lawsuit, during the Class Period, defendants repeatedly made positive statements about the state of its business, including positive statements about customer usage of, and new developments for, its products. At the same time, defendants failed to disclose that:
- product efficiency gains, Iceberg Tables and tiered storage pricing were expected to have a material negative impact on consumption and revenues, and
- as a result, defendants’ positive statements about consumption patterns, revenues, and demand for Snowflake products lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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