Snowflake Inc.

Registration Deadline:

04/29/2024

Submit Your Information

A securities class action has been filed in the USDC – N.D.CA. against of Snowflake Inc. (SNOW) (“Snowflake” or the “Company”) on behalf of all purchasers of Snowflake publicly traded Class A common stock between September 16, 2020 and March 2, 2022 both dates inclusive (the “Class Period”).

 

Snowflake is a data cloud platform that enables customers to consolidate data into a single source build data-driven applications and share data. Snowflake common stock trades on the New York Stock Exchange (“NYSE”) under the ticker symbol “SNOW.”

 

 The complaint alleges, that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

 (1) Snowflake had systematically oversold capacity to customers which created a misleading appearance of the demand for Snowflake’s products and services;

(2) 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;

(3) 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

(4) consequently, Snowflake’s product revenue and remaining performance obligations had been artificially inflated leading up to and during the Class Period, thereby harming investors.

 

 If you purchased Snowflake common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

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