EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Twitter, Inc.
19 Septembre 2016 - 4:32PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of purchasers of
Twitter, Inc. securities (NYSE: TWTR) from February 6, 2015 through
July 28, 2015, both dates inclusive (the “Class Period”). The
lawsuit seeks to recover damages for Twitter investors under the
federal securities laws.
To join the Twitter class action, go to the firm’s website at
http://rosenlegal.com/cases-954.html or call Phillip Kim, Esq. or
Kevin Chan, Esq. toll free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for more information on
the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants
issued false and misleading statements to investors that: by early
2015 daily active users had replaced the timeline views metric as
the primary user engagement metric tracked internally by Twitter
management; the trend in user engagement growth was flat or
declining; the new product initiatives were not having a
significant impact on monthly active users or user engagement;
Twitter’s stated “acceleration” was the result of low-quality
monthly active user growth; and Twitter lacked a basis for its
previously issued projections of approximately 20% monthly active
user growth and 550 million monthly active users in the immediate
term. As a result, defendants’ statements about Twitter business,
operations, and prospects were false and misleading and/or lacked a
reasonable basis. When the true details entered the market, the
lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
November 15, 2016. A lead plaintiff is a representative party
acting on behalf of other class members in directing the
litigation. If you wish to join the litigation, go to the firm’s
website at http://rosenlegal.com/cases-954.html for more
information. You may also contact Phillip Kim, Esq. or Kevin Chan,
Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at
pkim@rosenlegal.com or kchan@rosenlegal.com.
Follow us for updates on LinkedIn:
https://www.linkedin.com/company/the-rosen-law-firm or on Twitter:
https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919005928/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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