A lawsuit was filed by a current investor in Twitter Inc (NYSE:TWTR) shares over alleged breaches of fiduciary duty by certain directors and NYSE:TWTR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/06/2016 -- The Shareholders Foundation announced that a current investor in shares of Twitter Inc (NYSE:TWTR) filed a lawsuit against certain directors of Twitter Inc over alleged breaches of fiduciary duties.
Investors who are current long term investors in Twitter Inc (NYSE:TWTR) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The lawsuit against certain directors or Twitter Inc over alleged breaches of fiduciary duties follows a lawsuit filed against Twitter over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that 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 December 5, 2016, (NYSE:TWTR shares closed at $18.23 per share.
Those who purchased shares of Twitter Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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