According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business operations and prospects. Specifically, that:
- Twitter knew about security concerns on their platform;
- Twitter actively worked to hide the security concerns from the board, the investing public, and regulators;
- contrary to representations in SEC filings, Twitter did not take steps to improve security;
- Twitter’s active refusal to address security issues increased the risk of loss of public goodwill; and
- 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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