Snowflake Investors Eligible to Lead Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces opportunity for Snowflake investors with substantial losses

Mar. 13, 2026 at 3:48am

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The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Snowflake Inc. (NYSE: SNOW) Class A common stock between June 27, 2023 and the close of market on February 28, 2024 have until April 27, 2026 to seek appointment as lead plaintiff of the Snowflake class action lawsuit. The lawsuit alleges that Snowflake and certain of its former top executives made false and/or misleading statements and/or failed to disclose material information about product efficiency gains, Iceberg Tables, and tiered storage pricing, which had a negative impact on the company's revenues and ability to reach its financial targets.

Why it matters

This class action lawsuit represents an opportunity for Snowflake investors who suffered substantial losses during the specified time period to potentially recoup those losses by serving as the lead plaintiff. The lawsuit alleges that Snowflake and its executives misled investors about key factors impacting the company's financial performance and growth trajectory.

The details

The Snowflake class action lawsuit, captioned Patel v. Snowflake Inc., No. 26-cv-01613 (N.D. Cal.), charges Snowflake and certain of its former top executives with violations of the Securities Exchange Act of 1934. The lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) product efficiency gains, Iceberg Tables, and tiered storage pricing were expected to have a material negative impact on consumption and revenues; and (ii) the headwinds caused by these factors put Snowflake's ability to reach $10 billion in revenue and product revenue in 2029 in doubt.

  • The Class Period is from June 27, 2023 to the close of market on February 28, 2024 (4:00 p.m. EST).
  • Investors have until April 27, 2026 to seek appointment as lead plaintiff of the Snowflake class action lawsuit.

The players

Snowflake Inc.

A cloud-based data platform provider.

Robbins Geller Rudman & Dowd LLP

A law firm representing investors in securities fraud and shareholder rights litigation.

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What’s next

Investors who purchased Snowflake Class A common stock during the Class Period and wish to serve as lead plaintiff of the Snowflake class action lawsuit have until April 27, 2026 to provide their information to the law firm of Robbins Geller Rudman & Dowd LLP.

The takeaway

This class action lawsuit represents an opportunity for Snowflake investors who suffered substantial losses to potentially recoup those losses by serving as the lead plaintiff. The lawsuit alleges that Snowflake and its executives misled investors about key factors impacting the company's financial performance and growth trajectory.