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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.
Breach of Fiduciary duty,
Shock Event Date
23 August 2022