Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of The Trade Desk, Inc. who purchased shares between May 9, 2024 and February 12, 2025.
Trade Desk and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 12, 2025, the Company disclosed 4Q 2024 revenue of $741 million – below its previously issued guidance of $756 million and analysts’ estimates of $759.8 million because it had not yet transitioned all of its clients to the new advertising platform, Kokai, and was still “maintaining 2 systems, Solimar and Kokai,” and that “Kokai rolled out slower than anticipated,” but that “in some cases, the slower Kokai rollout was deliberate.”
On this news, the price of Trade Desk’s shares fell $40.31 per share, or more than 32%, from a closing price of $122.23 per share on February 12, 2025, to a closing price of $81.92 per share on February 13, 2025.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 21, 2025 to request that the court appoint them lead plaintiff.