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Lawsuit filed for Investors in Twitter, Inc. (NYSE: TWTR) over alleged Securities Laws Violations

09-21-2022 02:47 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Twitter, Inc. (NYSE: TWTR) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Twitter, Inc. (NYSE: TWTR) shares over alleged securities laws violations.

An investor, who purchased shares of Twitter, Inc. (NYSE: TWTR), filed a lawsuit over alleged violations of Federal Securities Laws by Twitter, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Twitter, Inc. (NYSE: TWTR) have certain options and for certain investors are short and strict deadlines running. Deadline: November 14, 2022. NYSE: TWTR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 23, 2022, an article was published alleging, among other things, that "Twitter has major security problems that pose a threat to its own users' personal information, to company shareholders, to national security, and to democracy, according to an explosive whistleblower disclosure obtained exclusively by CNN and The Washington Post." The article also stated that the whistleblower disclosure "also alleges that some of the company's senior-most executives have been trying to cover up Twitter's serious vulnerabilities, and that one or more current employees may be working for a foreign intelligence service."

Shares of Twitter, Inc. (NYSE: TWTR) declined from $45.00 per share on August 16, 2022, to $38.06 per share on September 6, 2022.

The plaintiff claims that between August 3, 2020 and August 23, 2022, the Twitter knew about security concerns on their platform, that Twitter actively worked to hide the security concerns from the board, the investing public, and regulators, that contrary to representations in SEC filings, Twitter did not take steps to improve security, that Twitter's active refusal to address security issues increased the risk of loss of public goodwill, and that as a result, Defendants' statements about Twitter's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Twitter, Inc. (NYSE: TWTR) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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