Twitter, over $ 800 million agreement to close class action

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Twitter, over $ 800 million agreement to close class action

Twitter will pay $ 809.5 million to settle a 2016 class action lawsuit in the Northern California District Court. This was announced by the US giant founded by Jack Dorsey in a communication to the SEC, Consob USA, after the signing of the binding agreement for having violated sections of the Securities Exchange Act of 1934.

The final settlement, which must be approved by the judge, should close the case without admitting any fault or improper behavior on the part of Twitter. The shareholders who initiated the class action five years ago accuse the company of masking the slow growth, while “selling shares for millions of dollars”.

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