Class Action Filed Against Reddit, Inc. – Investors with Losses Encouraged to Contact Johnson Fistel

Shareholder rights law firm Johnson Fistel, PLLP, announces that a class action lawsuit has been filed on behalf of investors who purchased or acquired Reddit, Inc. (“Reddit” or the “Company”) (NYSE: RDDT) securities between October 29, 2024 and May 20, 2025, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than August 18, 2025.

The Reddit class action lawsuit alleges that during the Class Period, Defendants made false and misleading statements, and failed to disclose, that: (i) changes in Google Search’s algorithm and features like AI Overview were causing users to stop their query on Google Search; (ii) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (iii) 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; (iv) this zero-click search reality was dramatically reducing traffic to Reddit in a manner the Company was unable to overcome in the short term; and (v) Defendants, therefore, lacked a reasonable basis for its outlook on user rates and advertising revenues.