Securities,
Civil Litigation
Sep. 21, 2021
Twitter agrees to pay $809M to settle securities fraud litigation
The complaint, filed by Robbins Geller Rudman & Dowd LLP along with Motley Rice LLC, alleged the San Francisco company concealed stagnant user growth and declining user “engagement” from investors.
On the day a major securities fraud class action trial was to begin in Oakland, Twitter Inc. tentatively settled the lawsuit for $809.5 million.
The complaint, filed by Robbins Geller Rudman & Dowd LLP along with Motley Rice LLC, alleged the San Francisco company concealed stagnant user growth and declining user "engagement" from investors.
Once Twitter revealed those negative figures on its social media sit...
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