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TWTR.US
id: 124, Created by Stan Vick, Scout
Twitter Inc
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- You will get case updates and receive a payout in case of success
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CNN released an article “Ex-Twitter exec blows the whistle, alleging reckless and negligent cybersecurity policies” in which was disclosed that “Twitter has major security problems that pose a threat to its own users’ personal information, to company shareholders, to national security, and to democracy, according to an explosive whistleblower disclosure obtained exclusively by CNN and The Washington Post.”
According to the report, this disclosure also was sent to SEC and other government bodies.
The report further stated that the whistleblower is “Peiter ‘Mudge’ Zatko, who was previously the company’s head of security, reporting directly to the CEO.”
Lastly, the report “alleges that some of the company’s senior-most executives have been trying to cover up Twitter’s serious vulnerabilities, and that one or more current employees may be working for a foreign intelligence service.”
On this news, Twitter’s share price fell by 7% to close at $39.86 per share on August 23, 2022.
Alleged Offence
Mismanagement,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
23 August 2022
Collecting participants…
Case history
Stan Vick
30 August 2023
$TWTR Case Update:
- Shareholders of $X (formerly Twitter) faced criticism from a California federal judge due to poor legal drafting in their stock-drop class action related to cybersecurity misrepresentation allegations.
- However, the judge indicated a possibility of revisiting certain claims if $TWTR shareholders apply 'common sense' and adhere to a 'straightforward approach' when revising their complaint.