TTD INVESTOR ALERT: Kirby McInerney LLP Reminds The Trade Desk, Inc. Investors of Looming Lead Plaintiff Deadline in Class Action Lawsuit

/EIN News/ -- NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP notifies investors of the approaching April 21, 2025, deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of those who acquired The Trade Desk, Inc. (“Trade Desk” or the “Company”) (NASDAQ:TTD) securities between May 9, 2024, through February 12, 2025 (“the Class Period”).

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On June 6, 2024, prior to the Class Period, Trade Desk launched Kokai, a generative AI forecasting tool, and began transitioning its clients to Kokai from the Company’s older ad-buying platform Solimar. Trade Desk touted the transition to investors as a seamless “switch over to the new” platform, and one “without the disruption that comes from yanking something out of the box and maybe having something totally hate it and just be angry.” Trade Desk further claimed to expect “full adoption” of Kokai “over the course of 2024 [.]”

On February 12, 2025, 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 2024 missed analysts’ estimates of $581.5 million. During the earnings call held that same day, CEO Jeff Green disclosed that Trade Desk has yet to reach full adoption of Kokai, as the Company is “maintaining 2 systems, Solimar and Kokai. This slows us down.” Later, on the same call, in response to a Cannonball Research analyst expressing concern regarding “issues with Kokai rollout pace,” CEO Green simply stated, “you’re right, that Kokai rolled out slower than we anticipated.” However, while addressing that same analyst’s question, CEO Green later explained that “in some cases, the slower Kokai rollout was deliberate.” On this news, the price of Trade Desk shares declined by $40.31 per share, or approximately 32%, from $121.23 per share on February 12, 2025, to close at $81.92 on February 13, 2025.

The complaint alleges that defendants, throughout the Class Period, made materially misleading statements that failed to disclose 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 rollout of Kokai; and (3) Trade Desk’s inability to effectively execute the rollout of Kokai negatively impacted the Company’s business and operations, particularly revenue growth.

If you purchased or otherwise acquired Trade Desk securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you.

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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 at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com