Reddit, Inc. (NYSE: RDDT) Long Term Investor Alert: Investigation of potential Wrongdoing

An investigation on behalf of current long-term investors in shares of Reddit, Inc. (NYSE: RDDT) concerning potential breaches of fiduciary duties by certain directors and officers of Reddit, Inc. was announced.

Investors who are current long term investors in Reddit, Inc. (NYSE: RDDT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: RDDT stocks follows a lawsuit filed against Reddit, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: RDDT stocks, concerns whether certain Reddit, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that, the defendants made false and misleading statements and/or failed to disclose that changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google search, that these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website, that the 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, that this zero-click search reality was dramatically reducing traffic to Reddit in a manner Reddit was unable to overcome in the short term, and that the defendants, therefore, lacked a reasonable basis for its outlook on user rates and advertising revenues

Those who purchased shares of Reddit, Inc. (NYSE: RDDT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.