NEW
YORK, March 8, 2024 /PRNewswire/ -- Moore Law,
PLLC, a securities and shareholder law firm located on Wall Street,
is investigating potential claims against:
- Snowflake Inc. (NYSE: SNOW)
Please contact fletcher@fmoorelaw.com.
Snowflake is a cloud data platform that enables its enterprise
customers to consolidate data into a single source to build
data-driven applications and share data.
The investigation involves alleged false and/or
misleading statements and/or failed to disclose that: (i) Snowflake
had systematically oversold capacity to customers which created a
misleading appearance of the demand for Snowflake's products and
services; (ii) Snowflake had provided significant discounts to its
customers prior to its initial public offering ("IPO") that
temporarily boosted sales but would not be sustainable after the
IPO and/or necessitate platform efficiency adjustments that
negatively impacted client consumption and Snowflake's revenue and
profit margins; (iii) as a result, Snowflake's customers were
poised to roll over a material amount of unused credits (and
thereby cannibalize future sales) at the end of their contracts'
terms or to refuse to renew their contracts at prior consumption
levels or at all; and (iv) consequently, Snowflake's product
revenue and remaining performance obligations had been artificially
inflated.
If you own Snowflake Inc. (NYSE: SNOW) please
contact Fletcher Moore, Esq. by email
at fletcher@fmoorelaw.com. There is no cost to you. We will
never send you a bill or ask you for payment.
ABOUT MOORE LAW
Moore Law gives investors a voice. We hold officers and
directors accountable for breaches of fiduciary duty, inside
selling, and other corporate malfeasance. We strengthen corporate
governance reforms giving your investments the protection they
deserve.
Attorney advertising. Prior results do not guarantee similar
outcomes.
Moore Law, PLLC
30 Wall Street, 8th Floor
New York, NY 10005
Fletcher Moore, Esq.
fletcher@fmoorelaw.com
(212) 709-8245
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SOURCE Moore Law PLLC