Scott+Scott Attorneys at Law LLP has launched an investigation into whether Reddit, Inc. directors and officers breached their fiduciary duties. The firm is evaluating potential damages to the company and its shareholders following a series of regulatory and operational setbacks.
The probe follows a May 1, 2025, company announcement regarding short-term bumps. It also addresses a $19.5 million fine issued by the UK Information Commissioner's Office on February 24, 2026.
British regulators penalized the company for the unlawful collection and use of data from children under the age of 13. Scott+Scott is now calling for Reddit common stock owners to join the investigation to discuss their legal rights.