Twitter Pays $800 Million To Settle Lawsuit Alleging Company Provided Misleading User Metrics To Investors | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

Twitter Pays $800 Million To Settle Lawsuit Alleging Company Provided Misleading User Metrics To Investors

Twitter has reached an $809 million class action lawsuit settlement to resolve claims that the company "provided misleading user-engagement info to investors".

A lawsuit filed in 2016 alleged that Jack Dorsey and former CEO Dick Costolo, in addition to board member Evan Williams, hid information about the social media company's slowing user growth while they sold their personal stock holdings. The sales netted "hundreds of millions of dollars in insider profits," the suit alleged, according to Variety.

Among the allegations were that the company didn’t reveal that to investors that its DAU figures showed that user engagement was flat or declining at the time.

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