Twitter Announces Proposed Settlement of Consolidated Class Action Lawsuit

SAN FRANCISCO, Sept. 20, 2021 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a binding agreement to settle the consolidated class action lawsuit commenced in 2016 in the United States District Court for the Northern District of California. The case was consolidated under the caption In re Twitter, Inc. Securities Litigation, Case No. 4:16-CV-0534-JST (SK).

The proposed settlement resolves all claims asserted against Twitter and the other named defendants without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant. Twitter and the individual defendants continue to deny any wrongdoing or any other improper actions.

Under the terms of the proposed settlement, Twitter will pay $809.5 million for claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Company intends to use cash on hand to pay the settlement amount, which is expected to be paid in the fourth quarter of 2021. The Company expects to record a charge for the settlement during the third quarter of 2021.

The final settlement agreement will be subject to approval by the Court.

About Twitter, Inc. Twitter (NYSE: TWTR) is what's happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter. Let's talk.

Contacts

Investors: ir@twitter.com

Press: press@twitter.com

Cision

View original content:https://www.prnewswire.com/news-releases/twitter-announces-proposed-settlement-of-consolidated-class-action-lawsuit-301380355.html

SOURCE Twitter, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":860108255,"tweetId":"860108255","gmtCreate":1632142800000,"gmtModify":1676530709295,"author":{"id":3567059087509683,"idStr":"3567059087509683","authorId":3567059087509683,"authorIdStr":"3567059087509683","name":"Twitter","avatar":"https://static.tigerbbs.com/ad1b92a03f3f1d1a4b77c30af7a14062","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":76,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"Twitter Announces Proposed Settlement of Consolidated Class Action Lawsuit","extraTitle":"","html":"<html><head></head><body><p><span>SAN FRANCISCO</span>, <span>Sept. 20, 2021</span> /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a binding agreement to settle the consolidated class action lawsuit commenced in 2016 in <span>the United States</span> District Court for the Northern District of <span>California</span>. The case was consolidated under the caption In re Twitter, Inc. Securities Litigation, Case No. 4:16-CV-0534-JST (SK).</p> <p>The proposed settlement resolves all claims asserted against Twitter and the other named defendants without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant. Twitter and the individual defendants continue to deny any wrongdoing or any other improper actions.</p> <p>Under the terms of the proposed settlement, Twitter will pay <span>$809.5 million</span> for claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Company intends to use cash on hand to pay the settlement amount, which is expected to be paid in the fourth quarter of 2021. The Company expects to record a charge for the settlement during the third quarter of 2021.</p> <p>The final settlement agreement will be subject to approval by the Court.</p> <p><b>About Twitter, Inc. </b>Twitter (NYSE: TWTR) is what's happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter. Let's talk.</p> <p><b>Contacts </b></p> <p>Investors: ir@twitter.com</p> <p>Press: press@twitter.com</p>Cision <p>View original content:https://www.prnewswire.com/news-releases/twitter-announces-proposed-settlement-of-consolidated-class-action-lawsuit-301380355.html</p> <p>SOURCE Twitter, Inc.</p></body></html>","htmlText":"<html><head></head><body><p><span>SAN FRANCISCO</span>, <span>Sept. 20, 2021</span> /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a binding agreement to settle the consolidated class action lawsuit commenced in 2016 in <span>the United States</span> District Court for the Northern District of <span>California</span>. The case was consolidated under the caption In re Twitter, Inc. Securities Litigation, Case No. 4:16-CV-0534-JST (SK).</p> <p>The proposed settlement resolves all claims asserted against Twitter and the other named defendants without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant. Twitter and the individual defendants continue to deny any wrongdoing or any other improper actions.</p> <p>Under the terms of the proposed settlement, Twitter will pay <span>$809.5 million</span> for claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Company intends to use cash on hand to pay the settlement amount, which is expected to be paid in the fourth quarter of 2021. The Company expects to record a charge for the settlement during the third quarter of 2021.</p> <p>The final settlement agreement will be subject to approval by the Court.</p> <p><b>About Twitter, Inc. </b>Twitter (NYSE: TWTR) is what's happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter. Let's talk.</p> <p><b>Contacts </b></p> <p>Investors: ir@twitter.com</p> <p>Press: press@twitter.com</p>Cision <p>View original content:https://www.prnewswire.com/news-releases/twitter-announces-proposed-settlement-of-consolidated-class-action-lawsuit-301380355.html</p> <p>SOURCE Twitter, Inc.</p></body></html>","text":"SAN FRANCISCO, Sept. 20, 2021 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a binding agreement to settle the consolidated class action lawsuit commenced in 2016 in the United States District Court for the Northern District of California. The case was consolidated under the caption In re Twitter, Inc. Securities Litigation, Case No. 4:16-CV-0534-JST (SK). The proposed settlement resolves all claims asserted against Twitter and the other named defendants without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant. Twitter and the individual defendants continue to deny any wrongdoing or any other improper actions. Under the terms of the proposed settlement, Twitter will pay $809.5 million for claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Company intends to use cash on hand to pay the settlement amount, which is expected to be paid in the fourth quarter of 2021. The Company expects to record a charge for the settlement during the third quarter of 2021. The final settlement agreement will be subject to approval by the Court. About Twitter, Inc. Twitter (NYSE: TWTR) is what's happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter. Let's talk. Contacts Investors: ir@twitter.com Press: press@twitter.com Cision View original content:https://www.prnewswire.com/news-releases/twitter-announces-proposed-settlement-of-consolidated-class-action-lawsuit-301380355.html SOURCE Twitter, Inc.","highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/860108255","repostId":0,"isVote":1,"tweetType":1,"viewCount":539,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["TWTR","CNSL"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1375,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/860108255"}