LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC (the “Firm”) announces a class action lawsuit has been filed against Twitter, Inc. (“Twitter” or the “Company”) (NYSE: TWTR) concerning possible violations of federal securities laws between February 6, 2015 and July 28, 2015 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm before the November 15, 2016 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the complaint, Twitter made materially false and/or misleading statements and/or failed to disclose: that by early 2015 daily active users had replaced the timeline views metric as the primary user engagement metric tracked internally by Twitter management; that the trend in user engagement growth was flat or declining; that new product initiatives were not having a significant impact on monthly active users or user engagement; that the Company’s stated “acceleration” was the result of low-quality monthly active user growth; and that Twitter lacked a basis for its previously issued projections of approximately 20% monthly active user growth and 550 million monthly active users in the immediate term. When this news was announced to the public, the Twitter stock price fell, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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