NEW YORK, Feb. 22, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Trade Desk, Inc. (NASDAQ: TTD) and certain of the Company’s senior executives for potential violations of the federal securities laws.
If you invested in Trade Desk, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-trade-desk-inc.
Investors have until April 21, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Trade Desk common stock. The case is pending in the U.S. District Court for the Central District of California and is captioned United Union of Roofers, Waterproofers & Allied Workers Local Union No. 8 WBPA Fund v. The Trade Desk, Inc., et al., No. 25-cv-01396.
Why was Trade Desk Sued for Securities Fraud?
Trade Desk is an advertising technology company that offers ad buyers the ability to create and manage data-driven digital advertising campaigns across ad formats and channels. The complaint alleges that during the relevant period, Trade Desk stated it was seeing “massive benefits” surrounding the launch of its next-generation platform, Kokai, and that although it was “already seeing the results of Kokai performance today,” it was “just getting started.”
In truth, when these statements were made, Trade Desk was experiencing execution challenges rolling out Kokai, which delayed the rollout and negatively impacted the Company’s business operations and revenue growth.
The Stock Declines as the Truth is Revealed
On February 12, 2025, after market hours, Trade Desk reported its fourth quarter 2024 financial results. The company reported disappointing revenue of $741 million, well below its guidance of “at least” $756 million in revenue. During the same-day earnings call, the company admitted that “Kokai rolled out slower than we anticipated” as the company was still “trying to understand what the customer needs.” On this news, the price of Trade Desk stock fell over 30% during the course of trading on February 13, 2025, from a closing price of $122.23 per share on February 12, 2025.
Click here for more information: https://www.bfalaw.com/cases-investigations/the-trade-desk-inc.
What Can You Do?
If you invested in Trade Desk you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/the-trade-desk-inc
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/the-trade-desk-inc
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