Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Encourages The Trade Desk, Inc. (TTD) Investors to Inquire About Securities Fraud Class Action

Business Wire 24-Feb-2025 12:00 PM

Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired The Trade Desk, Inc. ("Trade Desk" or the "Company") (NASDAQ: TTD) Class A common stock between May 9, 2024 and February 12, 2025, inclusive (the "Class Period"). Trade Desk investors have until April 21, 2025 to file a lead plaintiff motion.

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What Happened?

On February 12, 2025, after market hours, Trade Desk released its fourth quarter 2024 financial results, reporting revenue of $741 million, missing consensus estimates and prior guidance of $756 million. In its earnings call held the same day, the Company also stated that its digital advertising platform, Kokai, "rolled out slower than [it] anticipated."

On this news, Trade Desk's stock price fell $40.31, or 33%, to close at $81.92 per share on February 13, 2025, thereby injuring investors.

What Is the Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Trade Desk was experiencing significant, ongoing, self-inflicted execution challenges rolling out Kokai, including transitioning clients to Kokai from the Company's older platform Solimar; (2) such execution challenges meaningfully delayed the Kokai Rollout; (3) Trade Desk's inability to effectively execute the Kokai Rollout negatively impacted the Company's business and operations, particularly revenue growth; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Trade Desk common stock during the Class Period, you may move the Court no later than April 21, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us to Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq. Glancy Prongay & Murray LLP 1925 Century Park East, Suite 2100 Los Angeles California 90067 Email: shareholders@glancylaw.com Telephone: 310-201-9150 Toll-Free: 888-773-9224 Visit our website at www.glancylaw.com. Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250224323294/en/

Glancy Prongay & Murray LLP 1925 Century Park East, Suite 2100 Los Angeles, CA 90067 Charles Linehan Email: shareholders@glancylaw.com Telephone: 310-201-9150 Toll-Free: 888-773-9224 Visit our website at: www.glancylaw.com.