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 3, 2020 and August 23, 2022. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Twitter lawsuit alleges that (1) Twitter knew about security concerns on their platform; (2) Twitter actively worked to hide the security concerns from the board, the investing public, and regulators; (3) contrary to representations in its filings with the U.S. Securities and Exchange Commission, Twitter did not take steps to improve security; (4) Twitter’s active refusal to address security issues increased the risk of loss of public goodwill; and (5) as a result, defendants’ statements about Twitter’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until November 14, 2022 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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