Twitter will pay $ 810 million to mislead investors

On Monday, Twitter announced that he had negotiated an agreement with a group of shareholders who filed a class action lawsuit against him in 2016. Twitter has agreed to pay $ 809.5 million to shareholders accusing it of misleading investors about some of its performance. At the same time, the company stated that it does not admit any violations. Twitter is set to pay this amount in the fourth quarter using cash at its disposal, in this class action lawsuit that Twitter misled shareholders about two important parameters for the service: the number of monthly active users and the frequency of users on the service. According to the plaintiffs, in 2015, the service concealed a slowdown in these indicators from investors, while some top managers of the company, including the then CEO Dick Costolo, sold their shares and received “hundreds of millions of dollars of insider profit.” Yana Rozhdestvenskaya.

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