An investigation on behalf of current long term investors in Twitter, Inc. (NYSE:TWTR) shares over possible breaches of fiduciary duty was announced.
San Diego, CA -- (SBWIRE) -- 08/19/2022 -- An investigation on behalf of current long-term investors in shares of Twitter, Inc. (NYSE: TWTR) concerning potential breaches of fiduciary duties was announced.
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 +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: TWTR stocks follows a lawsuit filed against Elon Musk over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: TWTR stocks, concerns whether certain Twitter, Inc. officers and directors are liable in connection with the allegations made in that lawsuit.
An investor, who SOLD shares of Twitter, Inc. (NYSE: TWTR), filed a lawsuit in the over alleged violations of Federal Securities Laws by Elon Musk in connection with certain allegedly false and misleading statements made between March 24, 2022 and April 1, 202.
By March 14, 2022, Elon Musk had acquired more than a 5% ownership stake in Twitter, Inc. (NYSE: TWTR), requiring him to file a Schedule 13 with the United States Securities and Exchange Commission ("SEC") within 10 days, or March 24, 2022.
Then on April 4, 2022, Elon Musk disclosed that he had purchased over 73 million shares of Twitter, Inc. (NYSE: TWTR) stock—a 9.2% stake in the Company.
By the time Musk filed the required Schedule 13, revealing his ownership stake in Twitter, the Company's share rose from a closing price of $39.31 per share on April 1, 2022, to close at $49.97 per share on April 4, 2022 – an increase of approximately 27%.
In fact, shares of Twitter, Inc. (NYSE: TWTR) surged to as high as $54.57 per share on April 5, 2022.
According to the complaint the plaintiff alleges on behalf of Sellers of Twitter, Inc. (NYSE: TWTR) common shares, that the defendant violated Federal Securities Laws.
More specifically, the plaintiff claims that investors who sold shares of Twitter stock between March 24, 2022, and before the actual April 4, 2022 disclosure, missed the resulting share price increase as the market reacted to Defendant's purchases and that by failing to timely disclose his ownership stake, Defendant was able to acquire shares of Twitter less expensively between March 24, 2022 and April 1, 2022.
Those who SOLD shares of Twitter, Inc. (NYSE: TWTR) between March 14, 2022 and before the actual April 4, 202, have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.