NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against The Trade Desk. (“Trade Desk” or the “Company”) (NASDAQ: TTD). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Trade Desk and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 21, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Trade Desk securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 12, 2025, Trade Desk issued a press release announcing its financial results for the fourth quarter and full year of 2024. In the press release, Trade Desk reported 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. During a related earnings call on the same day, Chief Executive Officer (“CEO”) Jeffrey Green disclosed that Trade Desk had yet to reach full adoption of Kokai, its much-hyped ad-buying platform, as the Company was “maintaining two systems, Solimar [Trade Desk’s older platform] and Kokai. This slows us down.” Later on that same call, when an analyst expressed concern regarding “issues with Kokai rollout pace,” CEO Green simply stated, “you’re right, that Kokai rolled out slower than we anticipated” and later explained that “in some cases, the slower Kokai rollout was deliberate.”
On this news, Trade Desk’s stock price fell $40.31 per share, or 32.98%, to close at $81.92 per share on February 13, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
