||United States District Court for the Northern District of California
||The Hon. Jon Steven Tigar
||Between February 6, 2015 and July 28, 2015
On September 16, 2016, the initial complaint in this securities class action was filed against Twitter, Inc. (“Twitter”), and certain of Twitter’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. The Class Representatives allege that defendants made materially false and misleading statements during the Class Period in press releases and filings with the U.S. Securities and Exchange Commission and in oral statements to the media, securities analysts and investors. Specifically, the omissions and false and misleading statements artificially inflated the price of Twitter’s common stock and, when defendants disclosed the true facts, Twitter’s stock price dropped.
On February 15, 2018, Class Representatives filed a motion for class certification. On July 17, 2018, the Court issued an order granting the motion, certifying the Class as: all persons and entities that, during the period from February 6, 2015, through July 28, 2015, inclusive (the “Class Period”), purchased or otherwise acquired shares of the publicly traded common stock of Twitter, Inc., and were damaged thereby.
Current Status of Case:
The parties are currently briefing various pre-trial motions. A trial has been scheduled for September 20, 2021. This action is still ongoing.
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