A federal judge in San Francisco has certified a class of Twitter Inc. investors in a lawsuit accusing the company and two executives of misleading investors about the growth of its daily user base in the run-up to a 40 percent drop in its stock price in 2015.

U.S. District Judge Jon Tigar, in an order dated Monday and posted to the docket Tuesday, granted a motion to certify a class of investors who purchased Twitter stock between Feb. 6 and July 28, 2015. Investor plaintiffs allege that during that period, Twitter’s then-CEO and chief financial officer touted the company’s monthly active user numbers to investors when its flagging daily active user base was what the company put more weight on internally.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]