SAN FRANCISCO, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Twitter, Inc. (NYSE: TWTR) investors who suffered significant losses to submit your losses now.
Class Period: Aug. 3, 2020 – Aug. 23, 2022
Lead Plaintiff Deadline: Nov. 14, 2022
Visit: www.hbsslaw.com/investor-fraud/TWTR
Contact An Attorney Now: [email protected]
844-916-0895
Twitter, Inc. (NYSE: TWTR) Securities Fraud Class Action:
The litigation focuses on Twitter’s repeated claims about its compliance with its March 2011 settlement with the Federal Trade Commission that barred the company for 20 years “from misleading consumers about the extent to which it protects the security, privacy, and confidentiality of nonpublic consumer information, including the measures it takes to prevent unauthorized access to nonpublic information and honor the privacy choices made by consumers.”
The complaint alleges: (1) Twitter knew about security concerns on its platform; (2) Twitter actively worked to hide the security concerns from the board, investors, and regulators; (3) contrary to Twitter’s representations in SEC filings, it did not take steps to improve security; and (4) Twitter’s active refusal to address security issues increased the risk of loss of public goodwill.
Investors learned the truth on Aug. 23, 2022, when CNN reported that Peiter “Mudge” Zatko, Twitter’s former head of security, alleged in his July 2022 whistleblower complaint “that Twitter’s leadership misled its own board and government...
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