Bragar Eagle & Squire, PC reminds investors of this class

Bragar Eagle & Squire, PC reminds investors of this class


NEW YORK, Oct. 26, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits can be filed on behalf of shareholders of Twitter, Inc. (NYSE: TWTR ) and Compass Minerals International, Inc. (NYSE:CMP). Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Twitter, Inc. (NYSE:TWTR)

Class Period: May 13, 2022 – October 4, 2022

Lead Plaintiff Deadline: December 12, 2022

On May 13, 2022, Elon Musk tweeted that a merger with Twitter was “temporarily on hold.” Three separate merger termination notices between July 8, 2022 and September 9, 2022 falsely claimed that Twitter violated the terms of the merger agreement by not giving Musk documents about spam.

On October 4, 2022, less than two weeks before he was due to face a Delaware court hearing over the merger, Musk stated that he would proceed with the Twitter buyout at the original price of $54.20, abandoning his previous positions and surrendering to Twitter . The announcement shocked the stock market and sent Twitter’s stock price up 22%. Twitter stock and bondholders who sold their Twitter securities earlier this year based on Musk’s false statements have been hurt by selling at prices artificially depressed by Musk’s false statements.

The lawsuit alleges Musk violated Section 10(b) of the Securities Exchange Act of 1934 by making false statements about his purchase of Twitter, Inc., including termination notices falsely alleging that Twitter violated the terms of the Merger Agreement and that material An Adverse Event (“MAE”) had occurred. The complaint alleges that Musk’s statements were false because Musk was not entitled to due diligence and had in fact waived due diligence; Musk was well aware of the problem of bots and spam on Twitter, and there were no legal…

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