The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Twitter, Inc. (NYSE: TWTR) who purchased shares between August 6, 2019 and October 23, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the filed complaint alleges that defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated Twitter’s common share price and operated as a fraud or deceit on purchasers of Twitter common stock by misrepresenting the Company’s operating condition and future business prospects. The scheme was perpetrated by making positive statements about Twitter’s business while defendants knew, or disregarded with deliberate recklessness, certain adverse facts. When defendants’ prior misrepresentations were disclosed and became apparent to the market, the price of Twitter’s common stock fell precipitously.
Shareholders have until December 30, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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