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.
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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.
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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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