Twitter Will Pay $809.5 Million to Settle Class Action Lawsuit

Twitter has agreed to pay $809.5 million to settle a class-action lawsuit that accused the social media giant of inflating stock value and misrepresenting user data for the benefit of insiders. In an SEC filing this week, Twitter stipulated the final settlement agreement will not “constitute an admission” or finding of liability or wrongdoing. The settlement agreement still needs approval from U.S. District Court for the Northern District of California. The suit originated with a shareholder complaint filed in Q3 2016 and was later consolidated. Continue reading Twitter Will Pay $809.5 Million to Settle Class Action Lawsuit