Snowflake faces investor lawsuit after 18% share drop and USD 10 billion target withdrawal

Reuters

Mar 11

<a href="https://laohu8.com/S/SNOW">Snowflake</a> faces investor lawsuit after 18% share drop and USD 10 billion target withdrawal

Levi & Korsinsky filed a securities class action concerning Snowflake securities purchased between June 27, 2023 and Feb. 28, 2024. The complaint focuses on statements about consumption trends and a USD 10 billion 2029 product-revenue target that the firm alleges omitted risks tied to efficiency gains, tiered storage pricing, and Iceberg Table adoption. On Feb. 28, 2024, Snowflake reported increased revenue headwinds, withdrew the USD 10 billion target, and said efficiency gains had a 6% revenue impact. Following that disclosure, Snowflake shares fell USD 41.72, or 18%. The firm is seeking a lead plaintiff by April 27, 2026, and provided links to Find out if you are eligible to recover losses and Submit your claim before the deadline.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Snowflake Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603110900PR_NEWS_USPR_____NY07495) on March 11, 2026, and is solely responsible for the information contained therein.

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The complaint focuses on statements about consumption trends and a USD 10 billion 2029 product-revenue target that the firm alleges omitted risks tied to efficiency gains, tiered storage pricing, and Iceberg Table adoption. On Feb. 28, 2024, Snowflake reported increased revenue headwinds, withdrew the USD 10 billion target, and said efficiency gains had a 6% revenue impact. Following that disclosure, Snowflake shares fell USD 41.72, or 18%. The firm is seeking a lead plaintiff by April 27, 2026, and provided links to Find out if you are eligible to recover losses and Submit your claim before the deadline.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n<i>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Snowflake Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603110900PR_NEWS_USPR_____NY07495) on March 11, 2026, and is solely responsible for the information contained therein.</span></i>\n</p>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4532","symbol_name":"文艺复兴科技持仓","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260311:nNDL2hnRd0:1","article_id":"2618940361","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2618940361","pubTimestamp":1773234161,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Levi & Korsinsky filed a securities class action concerning Snowflake securities purchased between June 27, 2023 and Feb. 28, 2024. 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The complaint focuses on statements about consumption trends and a USD 10 billion 2029 product-revenue target that the firm alleges omitted risks tied to efficiency gains, tiered storage pricing, and Iceberg Table adoption. On Feb. 28, 2024, Snowflake reported increased revenue headwinds, withdrew the USD 10 billion target, and said efficiency gains had a 6% revenue impact. Following that disclosure, Snowflake shares fell USD 41.72, or 18%. The firm is seeking a lead plaintiff by April 27, 2026, and provided links to Find out if you are eligible to recover losses and Submit your claim before the deadline.\n      \n\n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Snowflake Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603110900PR_NEWS_USPR_____NY07495) on March 11, 2026, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory,event","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}