News

Misleading Investors

Kimberly Redmond | Equities.com |

Twitter Inc disclosed a binding agreement to settle a consolidated class-action lawsuit, under which the social media company will pay $809.5 million to resolve claims it provided misleading information to investors.

The settlement announced Monday stems from a lawsuit filed in September 2016 by a Twitter shareholder that accused company executives, including CEO Jack Dorsey, of artificially inflating its stock price by misleading investors about how often people used the site.