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Monday, 20 September 2021

Twitter proposes a $809 million settlement to end a Securities Exchange Act lawsuit


On Monday, Twitter issued a press release stating that it would settle a 2016 class-action lawsuit for $809.6 million. The suit alleged that the company had misled investors in 2014 about its growth and monthly active user (MAU) count in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

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