Twitter sued for misleading investors
A Twitter investor suing the social network, because investors by the former CEO and current CFO would have been misled.
According to the indictment have former CEO Dick Costolo and CFO Anthony Noto “is not accurate and misleading statements”, whereby the share of Twitter for no real reason grew.
In the fourth quarter of 2014 grew the number of Twitter users with four million. That was lower than expected. The Twitter executives, however, said that they have a greater growth in users is expected.
When the figures of the second quarter of 2015, has appeared, were the promised figures were not achieved, and fell, the share even further. Since then the stock price by 60 percent plunge.
According to the prosecutor, this is deception and should Twitter pay for this. It is unclear what exactly he wants to receive, or how many shares the investor has.