Twitter will pay $809.5 million to settle a lawsuit about misleading investors

The shareholders ‘ lawsuit claimed that Twitter in 2015 incorrectly informed them about the number of active users of the social network per month and the total number of its users.

Twitter has agreed to pay $809.5 million to settle a lawsuit alleging misleading investors. This is stated in the company’s statement published on Monday on the website of the U.S. Securities Commission.

It states that on September 20, Twitter announces the “entry into a binding agreement” to settle a class-action lawsuit filed in 2016 in the District Court of the Northern District of California.

“Agreement <…> requires the company to pay $809.5 million in connection with allegations of violation <…> the law on securities trading,” the document says.

According to The Wall Street Journal, the shareholders ‘ lawsuit claimed that Twitter in 2015 incorrectly informed them about some indicators, including the number of active users of the social network of the same name per month and the total number of its users.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
Function: Chief-Editor
E-mail: Great7news@gmail.com
Ivan Maltsev

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