Latest news with #AIOverview
Business Upturn
17 hours ago
- Business
- Business Upturn
ROSEN, LEADING INVESTOR COUNSEL, Encourages Reddit, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
NEW YORK, June 21, 2025 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Reddit, Inc. (NYSE: RDDT) between October 29, 2024 and May 20, 2025, both dates inclusive (the 'Class Period'). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 18, 2025. SO WHAT: If you purchased Reddit securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Reddit class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 18, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google search; (2) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (3) defendants were aware that the increase in the query term 'Reddit' on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (4) this zero-click search reality was dramatically reducing traffic to Reddit in a manner Reddit was unable to overcome in the short term; and (5) defendants, therefore, lacked a reasonable basis for its outlook on user rates and advertising revenues. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Reddit class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ——————————- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]
Business Wire
3 days ago
- Business
- Business Wire
RDDT Investors Have Opportunity to Lead Reddit, Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Reddit, Inc. ('Reddit' or 'the Company') (NYSE: RDDT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between October 29, 2024 and May 20, 2025, inclusive (the 'Class Period'), are encouraged to contact the firm before August 18, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Reddit's traffic was negatively impacted by changes to Google's search algorithm and features like AI Overview. The Company's traffic was impacted in materially different ways than it had been by prior Google changes. The Company was aware that Google users added 'Reddit' to their search hoping to get a answer to their question without actually visiting Reddit. The Company failed to overcome the challenges caused by Google in the short term. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Reddit, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
3 days ago
- Business
- Business Wire
Rosen Law Firm Urges Reddit, Inc. (NYSE: RDDT) Stockholders with Large Losses to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action lawsuit on behalf of purchasers and acquirers of Reddit, Inc. (NYSE: RDDT) securities between October 29, 2024 and May 20, 2025, both dates inclusive (the 'Class Period'). Reddit is a social media platform and forum-style website. For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Reddit, Inc. (NYSE: RDDT) Misled Investors Regarding its Business Operations. According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google search; (2) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (3) defendants were aware that the increase in the query term 'Reddit' on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (4) this zero-click search reality was dramatically reducing traffic to Reddit in a manner that Reddit was unable to overcome in the short term; and (5) Defendants, therefore, lacked a reasonable basis for its outlook on user rates and advertising revenues. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Reddit, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 18, 2025. 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 Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Attorney Advertising. Prior results do not guarantee a similar outcome.
Business Wire
3 days ago
- Business
- Business Wire
NYSE: RDDT: Kessler Topaz Meltzer & Check, LLP Announces the Filing of a Securities Class Action Lawsuit Against Reddit, Inc.
RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP ( informs investors that a securities class action lawsuit has been filed against Reddit, Inc. ('Reddit') (NYSE: RDDT The lead plaintiff deadline is August 18, 2025. DEFENDANTS' ALLEGED MISCONDUCT: The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google Search; (2) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (3) Defendants were aware that the increase in the query term 'Reddit' on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (4) this zero-click search reality was dramatically reducing traffic to Reddit in a manner the company was unable to overcome in the short term; (5) Defendants, therefore, lacked a reasonable basis for their outlook on user rates and advertising revenues; and (6) as a result, the company's public statements were materially false and misleading at all relevant times. THE LEAD PLAINTIFF PROCESS: Reddit investors may, no later than August 18, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Reddit investors who have suffered significant losses to contact the firm directly to acquire more information. ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
Politico
4 days ago
- Business
- Politico
What to do when an AI lies about you
As AI chatbots spread throughout American life — from personal assistants to romantic partners — one of the biggest puzzles is what to do when they misbehave. They're famous for making things up, or 'hallucinating,' to use the industry term. And when those hallucinations hurt people, it's not clear how they can fight back. One tool, of course, is existing defamation law — and a new federal lawsuit in Minnesota could start to answer the question of whether a company can be held liable for what an AI does. The suit was filed by a 200-employee solar panel company called Wolf River Electric, which alleges Google's AI Overview hurt its business by offering made-up, defamatory facts about the company. Assuming that Wolf River Electric can back up its complaint, this may be a telling test for whether existing law can rein in AI that harms people's reputations — or whether it falls short, and lawmakers need to step in. 'This might be one of the first cases where we actually get to see how the courts are going to really dig down and apply the basic principles of defamation law to AI,' said Ari Cohn, lead counsel for tech policy at the Foundation for Individual Rights in Education (FIRE). So, what did the AI get wrong? According to Wolf River Electric's complaint, employees were Googling the company when they discovered problems with the search engine's AI Overview, which summarizes the results for a particular query. A screenshot in the exhibits appears to show an AI Overview inaccurately stating that the company was being sued by Minnesota Attorney General Keith Ellison for deceptive sales practices, among other legal violations. The screenshotted overview cites multiple sources, but if you go back and read through them, none of webpages actually say Wolf River Electric is being sued. Some other solar companies are being sued, and Wolf River Electric is named in an article — but the connection appears to have been made up entirely by the AI. The screenshotted AI Overview warns at the end of its summary: 'Generative AI is experimental. For legal advice, consult a professional.' Wolf River Electric did, indeed, consult a professional — and sued Google. Google generally denied the defamation allegations in a filing last week, though it's yet to fully elaborate on its defense. In a statement to DFD, Google said, 'The vast majority of our AI Overviews are accurate and helpful but like with any new technology, mistakes can happen. As soon as we found out about the problem, we acted quickly to fix it.' In its own statement, Wolf River said: 'We've earned our reputation one customer and one project at a time. Now, that decade of hard work is at risk.' Wolf River's lawsuit adds to a small but growing roster of cases trying to pin some responsibility on companies when AI makes up defamatory information. Nationally syndicated radio host Mark Walters filed a lawsuit in 2023 against OpenAI, accusing ChatGPT of falsely claiming that he was being sued for embezzlement. A Georgia court dismissed Walters' suit in May, though the ruling isn't a binding precedent for the Minnesota case. Robby Starbuck, an anti-DEI activist with more than 800,000 X followers, sued Meta in April alleging that its chatbot inaccurately identified him as a participant in the January 6, 2021 insurrection. The case is ongoing. Wolf River's case is different for a couple of important reasons, say legal experts. One is that it purports to show actual harm from the defamation — lost business from particular clients. 'Wolf River Electric claims they've got the receipts,' UCLA Law professor Eugene Volokh told DFD. 'They've got what a lot of people who've been libeled have a hard time proving.' More importantly, the company doesn't have as much name recognition as Walters or Starbuck, which gives it a different status under First Amendment law. Well-known people have to meet a higher 'actual malice' standard to prove they've been defamed — whereas if the judge agrees that Wolf River Electric is a private figure, which the company asserted in a statement to DFD, then it would only have to show that Google was negligent. Assuming the company's argument holds up, the case will steer into uncharted and important territory: What counts as 'reasonable' or 'negligent' in AI design? Yale Law professor Robert Post, who specializes in the First Amendment, said product liability laws are a helpful analogy for navigating these murky issues. 'If you're marketing a toaster, you're responsible that it doesn't burst into flames,' he told DFD. 'What precautions did you take?' Because tools like ChatGPT have only become more popular over the past few years, it's hard to tell what the industry's standard is for preventing defamatory hallucinations — if AI companies have widely adopted one at all. Without these standards, courts and juries may be left to decide whether an AI developer acted reasonably, making judgments on a whole new kind of product without many helpful signposts to guide them. AI software is arguably the most complex in the world, so some regulation may be merited to help juries make sense of negligent design, regardless of how these cases turn out. 'It's not the kind of issue that you'd want different juries deciding on throughout the country,' said Post. 'You'd want national standards laid out by people who are technically well informed about what makes sense and what doesn't.' OpenAI builds out its Stargate vision Ambitions for Stargate are getting pretty lofty — and political. OpenAI released a policy paper titled 'Ideas to Power Democratic AI' on Tuesday, which puts its 'Stargate' data center initiative at the core of its aims to catalyze U.S. reindustrialization, ward off repressive governments abroad and build education-based communities across the country. Reading through this aspirational to-do list, you'd be forgiven for forgetting that Stargate was initially conceived as a data center construction project. President Donald Trump announced the initiative in January, as OpenAI entered into a $100 billion deal with SoftBank and Oracle to build the data centers that power AI systems like ChatGPT. The White House pledged to expedite permitting processes to aid the venture. OpenAI's policy paper brings Stargate to the forefront of the day's buzziest policy debates. The company promotes plans to develop infrastructure based on Stargate abroad, to ensure that global AI ecosystems are built on 'democratic rails' to counteract China's 'autocratic version of AI.' It pushes for data centers to be fixtures of their communities, with 'Stargate Academies' to train high-skilled workforces, and endowments for local governments. The company further trumpets Stargate as an important component in industrial policies like modernizing the energy grid. Stargate, it seems, is no longer just a construction deal – it's quickly becoming a political platform. Phone subsidies lead to mass privacy protections Roughly 1.4 million Californians rely on phones subsidized by the state's Lifeline program, and a leading proposal to expand its services now includes measures to shield all user data from the federal government. POLITICO's California Decoded team reported on Tuesday that Democratic Assemblymember Avelino Valencia is broadening privacy protections in AB 1303, a bill that would make undocumented immigrants without Social Security numbers eligible for state Lifeline subsidies. The bill's initial privacy measures restricted certain Lifeline data from being shared with the federal government, out of concern that undocumented users would unintentionally disclose their immigration statuses to the Trump administration. The amendment expands those protections to all customers, prohibiting telecom companies from sharing such data with federal officials without a warrant or subpoena. These privacy-oriented modifications to the bill come as Democrats and immigration advocates raise concerns about the administration wielding government databases to further its deportation efforts. An Associated Press investigation last weekend found that the Centers for Medicare and Medicaid Services shared data on Medicaid enrollees, including immigrants, with the Department of Homeland Security. The Internal Revenue Service and Department Housing and Urban Development have also entered data-sharing agreements with Homeland Security for immigration enforcement. post of the day THE FUTURE IN 5 LINKS Stay in touch with the whole team: Aaron Mak (amak@ Mohar Chatterjee (mchatterjee@ Steve Heuser (sheuser@ Nate Robson (nrobson@ and Daniella Cheslow (dcheslow@
