Twitter to pay US$809m to settle suit claiming investors were misled | Malay Mail

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NEW YORK, Sept 21 — Twitter announced Monday it will pay US$809 million (RM3.3 billion) 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...

NEW YORK, Sept 21 — Twitter announced Monday it will pay US$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.

Twitter said the final settlement agreement will be subject to court approval, and the company intends to pay in cash later this year. While Dorsey sold US$3.6 million worth of shares, co-founder Evan Williams sold US$274 million worth.

 

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