NEW YORK, Sept. 30, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Twitter, Inc. (NYSE: TWTR).
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The lawsuit seeks to recover losses for shareholders who purchased Twitter between August 3, 2020 and August 23, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until November 14, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Twitter, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Twitter knew about security concerns on their platform; (2) Twitter actively worked to hide the security concerns from the board, the investing public, and regulators; (3) contrary to representations in its filings with the U.S. Securities and Exchange Commission, Twitter did not take steps to improve security; (4) Twitter's active refusal to address security issues increased the risk of loss of public goodwill; and (5) as a result, defendants' statements about Twitter's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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