Data cloud platform provider Snowflake Inc. and certain executives were hit with a securities class action on Feb. 29 in California Northern District Court. The suit, filed by Robbins Geller Rudman & Dowd and Robbins LLP, contends that the defendants concealed that the company had created a false sense of demand by overselling capacity to customers and offering discounts in order to temporarily increase sales. Counsel have not yet appeared for the defendants. The case is 3:24-cv-01234, Flannery v. Snowflake Inc.
Technology
February 29, 2024, 6:40 PM