SAN DIEGO, Feb. 24, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of all persons or entities that purchased The Trade Desk, Inc. (NASDAQ: TTD) Class A common stock between May 9, 2024 and February 12, 2025. Trade Desk operates globally as a technology company, offering a self-service, cloud-based, ad-buying platform that allows marketers to plan, manage, optimize, and measure data-driven ad campaigns.
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The Allegations: Robbins LLP is Investigating Allegations that The Trade Desk, Inc. (TTD) Misled Investors Regarding its Business Prospects
According to the complaint, during the class period, 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 of the above, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 12, 2025, Trade Desk announced its financial results for the fourth quarter and full year of 2024, reporting fourth quarter revenue of $741 million—below the Company’s previously issued guidance of $756 million and analysts’ estimates of $759.8 million. Additionally, Trade Desk’s revenue guidance of at least $575 million for the first quarter of 2025 missed analysts’ estimates of $581.5 million. On a related earnings call, the Company’s CEO stated, “you’re right, that Kokai rolled out slower than we anticipated,” while indicating that “in some cases, the slower Kokai rollout was deliberate.” On this news, the price of Trade Desk Class A common stock dropped $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.
What Now: You may be eligible to participate in the class action against The Trade Desk, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 21, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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