Technology

Twitter to pay $809 mn to settle suit claiming investors were misled

Twitter to pay $809 mn to settle suit claiming investors were misled

Twitter announced Monday it will pay $809 million to settle a 2016 lawsuit alleging members of the social network's leadership, including founder Jack Dorsey, provided misleading information to investors about slowing user growth. The suit filed by shareholders claimed the defendants, such as former CEO Dick Costolo, did not disclose the full picture of the company's state while they sold their personal stock in Twitter.

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