San Diego, CA -- (SBWire) -- 09/22/2016 --An investor, who purchased shares of Twitter Inc (NYSE:TWTR), filed a lawsuit in California over alleged Securities Laws violations by Twitter Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Twitter Inc (NYSE:TWTR) have certain options and for certain investors are short and strict deadlines running. Deadline: November 15, 2016. NYSE:TWTR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Twitter Inc (NYSE:TWTR) common shares between February 6, 2015 and July 28, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 6, 2015 and July 28, 2015 the defendants concealed adverse facts they knew or deliberately disregarded, including that by early 2015, daily active users ("DAUs") had replaced the timeline views metric as the primary user engagement metric tracked internally by Twitter management and that the trend in user engagement growth (i.e., DAUs) was flat or declining. In addition, the plaintiff claims that defendants concealed that new product initiatives were not having a meaningful impact on Monthly Active Users or "MAU"s or user engagement, that Twitter's stated "acceleration [in MAU growth]" was the result of low-quality MAU growth, and that defendants lacked a basis for their previously issued projections of approximately 20% MAU growth and 550 million MAUs in the immediate term.
On February 5, 2015, Twitter Inc announced its financial results for the quarter and fiscal year ended on December 31, 2014. Twitter Inc (NYSE:TWTR) reported that its annual Total Revenue rose from $664.89 million in 2013 to over $1.4 billion in 2014 and that its Net Loss declined from $645.32 million to $577.82 million. Shares of Twitter Inc (NYSE:TWTR) grew from $36.68 per share in late January 2015 to as high as $53.49 per share on April 7, 2015.
Then on April 28, 2015, Twitter Inc announced its financial results for the first quarter 2015. Among other things, Twitter Inc also lowered its fully year 2015 expectations. Shares of Twitter Inc (NYSE:TWTR) declined from53.49 per share on April 7, 2015 to $37.37 per share on May 1, 2015.
On February 10, 2016, Twitter Inc announced its financial results for the quarter and fiscal year ended on December 31, 2015. Twitter Inc reported that its annual Total Revenue rose from over $1.4 billion in 2014 to over $2.21 billion in 2015 and that its Net Loss declined from $577.82 million to $521.03 million in 2015. Shares of Twitter Inc declined on February 11 2016 to as low as $14.31 per share.
On September 21, 2016, NYSE:TWTR shares closed at $18.49 per share.
Those who purchased shares of Twitter Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Lawsuit for Investors in Shares of Twitter Inc (NYSE:TWTR) Announced
A lawsuit was filed on behalf of investors in Twitter Inc (NYSE:TWTR) shares over alleged securities laws violations and NYSE:TWTR investors should contact the Shareholders Foundation.