Twitter Agrees to Pay Over $800 Million to Settle Lawsuit Accusing It of Misleading Investors

The decision brought the case to court. The trial is set to begin on Twitter Monday, but on September 17, District Judge Jon Tigar was suspended in Oakland, California, until the end of November.

Twitter, CEO Richard Costolo, and Chief Financial Officer Anthony Note have denied any wrongdoing, agreeing with the decision, which requires Tigar approval.” The court is the same, even with some of the most powerful companies in the world,” said Tor Gronberg, a lover of Robbins Geller Rudman & Dowd.

At the start of the afternoon sales, Twitter shares dropped 3.8 percent to $ 60.11 (around 4,420). Twitter says it hopes to use this money easily to pay the department in the fourth quarter of this year and to register an account in the third quarter.

The developers attacked Twitter in September 2016, claiming it had raised the price of the product by misleading them with useful information. As far as the complaint is concerned, Twitter stopped reporting “timely reports” in late 2014 and hid personal frustration or harassment by reporting what metric users did not understand.

The founders say Twitter has received the truth when Costolo left the company in June 2015, and that stock prices have dropped by 20 percent. The working group includes traders who bought the stock from 6 January 2015 to 28 July 2015.

Since 1996, only 9 percent of the more than 5,000,000 U.S. security guards, Securities Class Action Clearinghouse said about half the price was reduced, and the rest was banned.

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