Class action lawsuit charges Twitter and certain of its top executive officers with violations of the Securities Exchange Act of 1934

Twitter, Inc. (NYSE:TWTR)

NASHVILLE, TENNESSEE, UNITED STATES, September 30, 2022 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, reminds investors that a that a purchaser of Twitter, Inc. (NYSE: TWTR) who suffered losses in Twitter stock, filed a class action complaint against the Company for violations of the securities laws. The Twitter class action lawsuit seeks to represent purchasers or acquirers of Twitter publicly traded securities between August 3, 2020 and August 23, 2022, inclusive (the “Class Period”). The Twitter class action lawsuit – captioned Baker v. Twitter, Inc., No. 22-cv-06525 (C.D. Cal.) – charges Twitter and certain of its top executives with violations of the Securities Exchange Act of 1934.Lead plaintiff motions for the Twitter class action lawsuit must be filed with the court no later than November 14, 2022.

If you suffered losses in Twitter stock or would like additional information, please visit us here.

Allegations in the Twitter Class Action Lawsuit

In 2010, the Federal Trade Commission (“FTC”) filed a complaint against Twitter for mishandling users’ private information and the issue of too many employees having access to Twitter’s central controls. On March 11, 2011, the FTC agreed to a settlement with Twitter and, as part of the settlement, Twitter agreed it would be “barred for 20 years from misleading consumers about the extent to which it protects the security, privacy, and confidentiality of nonpublic consumer information, including the measures it takes to prevent unauthorized access to nonpublic information and honor the privacy choices made by consumers.”

However, as the Twitter class action lawsuit alleges, defendants failed to disclose that: (i) Twitter knew about security concerns on their platform; (ii) Twitter actively worked to hide the security concerns from their Board of Directors, the investing public, and regulators; (iii) contrary to representations in U.S. Securities and Exchange Commission (“SEC”) filings, Twitter did not take steps to improve security; and (iv) Twitter’s active refusal to address security issues increased the risk of loss of public goodwill.

On August 23, 2022, CNN published an article titled “Ex-Twitter exec blows the whistle, alleging reckless and negligent cybersecurity policies,” reporting that “Twitter has major security problems that pose a threat to its own users’ personal information, to [Twitter] shareholders, to national security, and to democracy, according to an explosive whistleblower disclosure obtained exclusively by CNN and The Washington Post.” The article further revealed that “[t]he whistleblower, who has agreed to be publicly identified, is Peiter ‘Mudge’ Zatko, who was previously [Twitter’s] head of security, reporting directly to the CEO.” Specifically, “Zatko further alleges that Twitter’s leadership has misled its own board and government regulators about its security vulnerabilities, including some that could allegedly open the door to foreign spying or manipulation, hacking and disinformation campaigns.”

​On this news, Twitter’s stock price fell by approximately 7%, damaging investors who suffered losses in Twitter stock.

Twitter Shareholders Urged to Contact the Firm

If you purchased Twitter securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here for more information or contact Timothy L. Miles, Esquire, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2022 Top Ranked Lawyer and a 2022 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
109 Summit Ridge Ct.
Nashville, TN 37215
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com
Timothy Miles
Law Offices Of Timothy L. Miles
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Timothy L. Miles Miles
Law Offices Of Timothy L. Miles
+1 615-587-7384
email us here
Visit us on social media:
Facebook
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Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
Timothy L. Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
Timothy L. Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

Timothy L. Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

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