LOS ANGELES, Feb. 26, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Snowflake, Inc., (“Snowflake” or the "Company") (NYSE: SNOW) investors off a class action on behalf of investors that bought securities between June 27, 2023, and February 8, 2024, inclusive (the “Class Period”). Snowflake investors have until April 27, 2026, to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/snowflake-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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) product efficiency gains, Iceberg Tables, and tiered storage pricing were expected to have a material negative impact on consumption and revenues; and (ii) the headwinds caused by product efficiency gains, Iceberg Tables, and tiered storage pricing put Snowflake’s ability to reach $10 billion in revenue and product revenue in 2029 in doubt. The Snowflake class action lawsuit further alleges that on February 28, 2024, Snowflake announced its financial results for the quarter ended January 31, 2024 and full fiscal year 2024, disclosing that Snowflake was forecasting increased revenue headwinds associated with product efficiency gains, tiered storage pricing, and the expectation that some of Snowflake’s customers will leverage Iceberg Tables for their storage. On this news, the price of Snowflake Class A common stock fell more than 18%, according to the complaint.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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