INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Twitter, Inc. T...
30 Septembre 2016 - 7:51PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Northern
District of California on behalf of purchasers of Twitter, Inc.
(NYSE: TWTR) (“Twitter” or the “Company”) common stock during the
period between February 6, 2015 and July 28, 2015, inclusive (the
“Class Period”). Investors who wish to become proactively involved
in the litigation have until November 15, 2016 to seek appointment
as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Twitter common stock during the Class Period. Members
of the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. No class has yet been certified in
the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that by early 2015,
daily active users (“DAUs”) had replaced the timeline views metric
as the primary user engagement metric tracked internally by Twitter
management and the trend in use engagement growth was flat or
declining, new product initiatives were not having a meaningful
impact on MAUs (a measure of the total user base) or user
engagement, the acceleration in MAU growth was the result of
low-quality MAU growth, and the previously issued projections
regarding MAU growth lacked any reasonable basis.
According to the complaint, following a July 28, 2015 press
release announcing its second quarter 2015 financial results,
disclosing that MAUs had increased by only 2 million users over the
prior quarter, product initiatives had not affected growth, and
that organic growth was going to be very low, the value of Twitter
shares declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in Twitter common stock purchased on or after February
6, 2015 and held through the revelation of negative information
during and/or at the end of the Class Period and would like to
learn more about this lawsuit and your ability to participate as a
lead plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160930005805/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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