NEW YORK, Nov. 02, 2026 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Reddit, Inc. (“Reddit” or the “Company”) (NYSE: RDDT). The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices. If you purchased or otherwise acquired Reddit securities, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to learn more about your rights.
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What Happened?
On October 29, 2026, Reddit announced that it will be shifting Reddit to a logged-in only experience. Reddit CEO Steve Huffman stated that “moving to primarily logged-in will ensure our users have the best Reddit experience possible… It also allows us to protect access to Reddit’s extremely valuable corpus of data and helps us better adapt to emerging regulations around the world.” The Company stated that the shift would begin in fourth quarter 2026, when it will “begin fully testing this in select markets outside the U.S. The results of those tests will inform an optimized version of logged-in only Reddit globally.” On this news, the price of Reddit shares declined by $37.87 per share, or approximately 29.2%, from $129.60 per share on October 29, 2026 to close at $91.73 on October 30, 2026.
What Should I Do?
At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.
If you purchased or otherwise acquired Reddit securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found on Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
investigations@kmllp.com
