What is a securities class action lawsuit?

A securities class action is a lawsuit filed on behalf of investors who claim they were harmed by false or misleading statements, omissions, or other violations of federal securities laws.

How do I know if I qualify to join a securities class action?

You may qualify if you purchased the company’s stock during the class period and suffered losses after the alleged corrective disclosure.

What is a class period in a securities lawsuit?

The class period is the timeframe during which the alleged misleading statements were made and when investors may have purchased affected securities.

What does it mean to be a lead plaintiff?

The lead plaintiff is the investor appointed by the court to represent the interests of all class members and work with attorneys on the case.

Why is Snowflake facing a securities class action lawsuit?

Investors allege Snowflake made misleading statements about how product changes and pricing strategies would affect customer consumption and revenue growth.

What are Iceberg Tables and why are they mentioned in the Snowflake lawsuit?

Iceberg Tables are a product feature that allegedly contributed to efficiency gains, which investors claim reduced usage levels and negatively impacted revenue more than disclosed.

How could product efficiency gains hurt Snowflake’s revenue?

Greater efficiency can lower customer consumption of cloud resources, which may reduce usage-based revenue if demand does not increase enough to offset the change.

What is tiered storage pricing and why does it matter to Snowflake investors?

Tiered pricing offers lower-cost storage options, which may compress revenue per customer if usage shifts to cheaper tiers.

What are investors alleging about Snowflake’s revenue guidance?

The complaint claims Snowflake’s positive statements about demand and consumption trends lacked a reasonable basis given internal knowledge of pricing and efficiency impacts.

Snowflake Inc. - Faruqi & Faruqi LLP

Snowflake Inc.

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Case Details

Ticker SNOW

Class Period 06/27/2023 - 02/28/2024

Lead Plaintiff Deadline 04/27/2026

Days Left to Seek Plaintiff

If you are an Snowflake investor who suffered a loss and would like to learn more, you can provide your information below:

If you purchased or acquired securities in Snowflake between June 27, 2023 and February 28, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Snowflake Inc. (“Snowflake” or the “Company”) (NYSE: SNOW) and reminds investors of the April 27, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) product efficiency gains, Iceberg Tables and tiered storage pricing were expected to have a material negative impact on consumption and revenues1 , and (2) as a result, Defendants’ positive statements about consumption patterns, revenues, and demand for Snowflake products lacked a reasonable basis.

Lead Plaintiff Deadline: April 27, 2026

Call Partner Josh Wilson at 877-247-4292 or 212-983-9330 (Ext. 1310)
Or submit your information below to learn about your rights.

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Snowflake Inc.

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