LOS ANGELES, Oct. 24, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come November 14, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired Twitter, Inc. (“Twitter” or the “Company”) TWTR securities between August 3, 2020 and August 23, 2022inclusive (the “Class Period”).
If you have suffered a loss on your Twitter investments or would like to inquire about potential claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/twitter-inc-2/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.
on August 23, 2022, CNN published an article claiming, among other things, that “Twitter has major security issues that pose a threat to its own users’ personal information, to the company’s shareholders, to national security, and to democracy, as from an explosive whistleblower disclosure obtained exclusively from CNN and the Washington Post.” The article also states that the whistleblower disclosure “also alleges that some of the company’s top executives attempted to cover up Twitter’s serious vulnerabilities, and that one or more current employees may work for a foreign intelligence agency.”
On the news, Twitter stock fell $3.15, or 7.3%, to close at $39.86 per share on August 23, 2022, hurting investors.
The lawsuit alleges that the defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects during the class period. Specifically, Defendants failed to disclose to investors that: (1) Twitter was aware of security concerns on their platform; (2) Twitter has been actively working to hide the security concerns from the board,…
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