The Trade Desk, Inc.
| Company Name | The Trade Desk, Inc. |
| Stock Symbol | TTD |
| Class Period | May 09, 2024 to February 12, 2025 |
| Lead Plaintiff Motion Deadline | April 21, 2025 |
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.
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.
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