SAN FRANCISCO — A lawsuit lobbed at Twitter Inc. in federal court Friday alleges that the company misled investors about trends in user engagement with its social media platform.
The securities fraud class action, brought by attorneys at Robbins Geller Rudman & Dowd, claims that Twitter executives painted an exceedingly rosy estimate toward the end of 2014 of its average “monthly active users” growing to more 550 million in the near term. Twitter had just 288 million in the final quarter of that year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
