id: 292, Created by Stan Vick, Scout
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
06 Feb 2015Class period Start
28 Jul 2015Class period End
23 Nov 2022Claim deadline
IN RE TWITTER, INC. SECURITIES LITIGATION.
Twitter Inc (TWTR) agreed to pay $809.5 million to settle a securities class action lawsuit accusing the Company of deceiving investors about user engagement in 2015.
The initial complaint in this action was filed on September 16, 2016. It alleged that Twitter and its Leaders knowingly concealed and made false statements about the Company’s key operating metrics to artificially inflate the price of Twitter’s common stock and that when the Company disclosed the true facts, Twitter’s stock price dropped.
The class action claimed Twitter misled investors about the following metrics:
- monthly active users;
- the total number of users on its platform;
- the timeline views;
- and how frequently users interacted with the platform.
After 5-year court proceedings, Twitter agreed to settle with investors to avoid further litigation.
Robbins Geller Rudman & Dowd LLP, Motley Rice LLC
Hon. Jon S. Tiger
Court hearing date
17 November 2022
+$809,500,000Total Settlement Amount