NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Twitter, Inc. securities (NYSE: TWTR) from February 6, 2015 through July 28, 2015, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Twitter investors under the federal securities laws.
To join the Twitter class action, go to the firm’s website at http://rosenlegal.com/cases-954.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email [email protected] or [email protected] for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors that: by early 2015 daily active users had replaced the timeline views metric as the primary user engagement metric tracked internally by Twitter management; the trend in user engagement growth was flat or declining; the new product initiatives were not having a significant impact on monthly active users or user engagement; Twitter’s stated “acceleration” was the result of low-quality monthly active user growth; and Twitter lacked a basis for its previously issued projections of approximately 20% monthly active user growth and 550 million monthly active users in the immediate term. As a result, defendants’ statements about Twitter business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 15, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-954.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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