Archived Investigations
The Trade Desk, Inc. (NasdaqGM: TTD)
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.
The case is United Union of Roofers, Waterproofers & Allied Workers Local Union No. 8 WBPA Fund v. Trade Desk, Inc., et al., No. 25-cv-1396. A second case, Savorelli v. Trade Desk, Inc., et al., No. 25-cv-1915, expanded the class definition.