Friday, 24 March, 2023

Twitter to settle shareholder lawsuit by paying $809.5M

<p>Microblogging giant Twitter has said that it will pay $809.5M, in the fourth quarter, to settle a consolidated class-action lawsuit. The lawsuit, filed in 2016 by Twitter investor Doris Shenwick, alleged that the company misled investors regarding Twitter&#39;s user base growth and interaction, and &quot;knowingly made inaccurate public statements&quot; regarding the metrics. This resulted in an inflated share price, that fell when the truth became known.</p>