TWTR) SHAREHOLDERS CLASS ACTION:
NEW YORK, Sept. 27, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors, who have between purchased or acquired the securities of Twitter, Inc. (“Twitter” or the “Company”) (NYSE: TWTR). August 3, 2020 and August 23, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Central District of California alleging violations of the Securities Exchange Act of 1934.
Twitter purports to be a global social media platform for public self-expression and real-time conversation.
In 2010, the Federal Trade Commission (“FTC”) filed a complaint against Twitter for mishandling users’ private information and for having too many employees access to Twitter’s central controls.
On March 11, 2011, the FTC agreed to a settlement with Twitter. As part of the settlement, Twitter agreed to be “barred for 20 years from misleading consumers about how it protects the security, privacy and confidentiality of non-public consumer information, including the measures it takes to prevent unauthorized access to.” prevent non-public information and respect consumer privacy choices.”
Plaintiff alleges that the Defendants made materially false and misleading statements regarding safety issues during the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose: (1) Twitter was aware of security concerns on their platform; (2) Twitter has actively worked to hide security concerns from its board of directors, the investing public, and regulators; (3) Contrary to representations in SEC …
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