Snowflake Investor Alert: Deadline Approaching for Lead Plaintiff in Class Action Lawsuit

Kaplan Fox Reminds SNOW Shareholders of April 27, 2026 Deadline to Serve as Lead Plaintiff

Apr. 8, 2026 at 1:54pm

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Kaplan Fox & Kilsheimer LLP has filed a class action lawsuit against Snowflake Inc. (NYSE: SNOW) on behalf of all persons and entities who purchased the company's Class A common stock during the period from June 27, 2023 through February 28, 2024. The lawsuit alleges that Snowflake failed to disclose that product efficiency gains, Iceberg Tables, and tiered storage pricing were expected to have a material negative impact on consumption and revenues.

Why it matters

This lawsuit highlights the importance of transparency and accurate disclosures by public companies. Investors rely on companies to provide truthful information about their business performance and outlook, and any failure to do so can lead to significant losses for shareholders.

The details

The lawsuit alleges that during the Class Period, Snowflake repeatedly made positive statements about the state of its business, including positive statements about customer usage of, and new developments for, its products. However, the company failed to disclose that product efficiency gains, Iceberg Tables and tiered storage pricing were expected to have a material negative impact on consumption and revenues. On February 28, 2024, Snowflake shocked investors when it issued a press release announcing its financial results for the fourth quarter and full fiscal year 2024, as well as guidance for the full fiscal year 2025, which included forecasts of increased revenue headwinds associated with these factors.

  • The class action lawsuit was filed on April 8, 2026.
  • The deadline for class members to move the court to serve as a lead plaintiff is April 27, 2026.

The players

Kaplan Fox & Kilsheimer LLP

A law firm that has filed the class action lawsuit against Snowflake Inc. on behalf of shareholders.

Snowflake Inc.

A cloud-based data warehousing company that is the defendant in the class action lawsuit.

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What they’re saying

“If you suffered substantial losses and wish to serve as lead plaintiff, please e-mail attorneys Jason A. Uris (juris@kaplanfox.com) or Laurence D. King (lking@kaplanfox.com), or contact them by phone, regular mail, or fax, or click here.”

— Laurence D. King, Attorney, Kaplan Fox & Kilsheimer LLP

What’s next

The deadline for class members to move the court to serve as a lead plaintiff in the lawsuit is April 27, 2026.

The takeaway

This case highlights the importance of accurate and transparent financial reporting by public companies. Investors who suffered losses due to Snowflake's alleged failure to disclose material information may have the opportunity to seek compensation through the class action lawsuit.