SUEWALLST: SNOW DISCLOSURE TIMELINE REVEALS PATTERN OF ALLEGED INVESTOR HARM

Rhea-AI Summary

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Key Figures

Share price drop: $41.72 per share Price decline: 18.14% decline Product revenue target: $10 billion +5 more

8 metrics

Share price drop $41.72 per share Post-disclosure decline cited in lawsuit notice

Price decline 18.14% decline Move following disclosure of headwinds and guidance changes

Product revenue target $10 billion Withdrawn 2029 product revenue target cited in complaint

Efficiency impact 6.2% to 6.3% Revenue impact from efficiency gains disclosed on Feb 28, 2024

FY 2025 guidance 22% year-over-year growth Lowered FY 2025 product revenue guidance

Market expectation 30% growth Market expectation for FY 2025 product revenue growth

Class period start June 27, 2023 Beginning of alleged affected investor purchase window

Class period end February 28, 2024 End of alleged affected investor purchase window

Market Reality Check

Price: $179.43 Vol: Volume 3,477,948 vs 20-da...

low vol

$179.43 Last Close

Volume Volume 3,477,948 vs 20-day average 7,072,758 suggests subdued trading ahead of this legal update. low

Technical Price $179.43 is below 200-day MA at $218.01 and about 36% under the 52-week high of $280.67.

Peers on Argus

SNOW was up 2.34% pre-news while key peers were mixed: ADSK -1.42%, MSTR -1.09%,...

SNOW was up 2.34% pre-news while key peers were mixed: ADSK -1.42%, MSTR -1.09%, WDAY -3.61%, CDNS -0.21%, and DDOG +2.53%, pointing to stock-specific factors rather than a unified sector move.

Historical Context

5 past events · Latest: Mar 10 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 10	AI research report	Positive	-4.1%	Study highlighting interoperability as key to scaling AI in healthcare.
Mar 10	AI ROI study	Positive	-4.1%	Report showing AI adoption driving net job gains and positive ROI.
Mar 05	Litigation notice	Negative	+5.5%	SueWallSt alert on alleged fraud and institutional portfolio losses.
Feb 25	Earnings results	Positive	+5.1%	Q4 and FY26 results with strong product revenue and RPO growth.
Feb 23	Product expansion	Positive	-8.6%	Cortex Code expansion to support dbt and Apache Airflow tooling.

Pattern Detected

Recent news has often seen price moves that diverge from the apparent tone of announcements, especially on AI product and legal headlines.

Recent Company History

Over the last few weeks, Snowflake has mixed growth narratives with legal overhang. An earlier lawsuit-focused release on Mar 5, 2026 coincided with a +5.46% move, while two AI-focused research pieces on Mar 10, 2026 saw shares down 4.11%. Strong fiscal 2026 earnings on Feb 25, 2026 with Q4 product revenue of $1.23B and RPO of $9.77B aligned with a +5.06% reaction. Today’s class-action timeline adds detail to the same legal narrative that has already appeared in prior news.

Market Pulse Summary

This announcement lays out a detailed litigation timeline around Snowflake’s earlier disclosure of c...

Analysis

This announcement lays out a detailed litigation timeline around Snowflake’s earlier disclosure of consumption headwinds, a withdrawn $10 billion product revenue target, and an 18.14% share-price decline. It reiterates class-period dates and alleges gaps between internal knowledge and public communication. In the context of recent earnings strength and ongoing AI initiatives, investors may focus on how disclosure practices, governance, and any future legal developments intersect with guidance and product-usage trends.

AI-generated analysis. Not financial advice.

Key Dates and Disclosure Events Shareholders Need to Know

NEW YORK, March 12, 2026 /PRNewswire/ -- SueWallSt encourages investors who suffered losses in Snowflake Inc. (NYSE: SNOW) to contact the firm. WHO IS AFFECTED: Those who purchased SNOW securities between June 27, 2023 and February 28, 2024 may be entitled to recover damages. Find out if you are eligible to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

Snowflake shares fell $41.72 per share, an 18.14% decline, after the Company disclosed consumption headwinds and withdrew its $10 billion product revenue target. The window to apply for lead plaintiff closes on April 27, 2026.

June 27, 2023: Investor Day Optimism

Snowflake hosted an Investor Day presentation where management reaffirmed confidence that the Company would reach $10 billion in product revenue by 2029. Management characterized consumption as "back where we'd expect it to be" and portrayed Iceberg Tables as a workload expansion opportunity in "full alignment" with the business model. The lawsuit contends these statements omitted known risks that efficiency gains and new product formats would cannibalize consumption revenue.

August 23, 2023: Q2 Fiscal 2024 Earnings Call

Management described consumption as "good" and told analysts that "stabilization is the right term." The action claims management touted upcoming product launches, including Streamlit, Unistore, and Containerized Services, as catalysts for revenue growth reacceleration, while failing to disclose material headwinds already affecting the consumption model.

November 29, 2023: Q3 Fiscal 2024 Earnings Call

Management reported "strong consumption from a broad base of customers" and highlighted new large-account wins. As alleged, tiered storage pricing had already begun rolling out to the Company's biggest customers, and large customers had already communicated their plans to adopt Iceberg Tables, yet these headwinds were not disclosed.

February 28, 2024: The Corrective Disclosure

After the market closed, Snowflake disclosed Q4 and full fiscal year 2024 results and provided guidance that shocked investors:

• Acknowledged "increased revenue headwinds" from product efficiency gains, tiered storage pricing, and Iceberg Table adoption
• Revealed a 6.2% to 6.3% revenue impact from efficiency gains alone
• Lowered FY 2025 product revenue guidance to 22% year-over-year growth versus the 30% market expectation
• Withdrew the long-standing $10 billion 2029 product revenue target
• Disclosed that tiered storage pricing had started rolling out in Q3 and ramped through Q4

Submit your claim before the deadline or call Joseph E. Levi, Esq. at (888) SueWallSt.

"Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology in this case raises questions about the gap between when certain headwinds were known internally and when they were communicated to the investing public." -- Joseph E. Levi, Esq.

ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by April 27, 2026.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

View original content:https://www.prnewswire.com/news-releases/suewallst-snow-disclosure-timeline-reveals-pattern-of-alleged-investor-harm-302711883.html

SOURCE SueWallSt.com