Twitter Settles Dispute with Shareholders for $809.5 Million
Twitter messaging service will pay $809.5 million to shareholders who accused the company of misleading communications about the social network’s results in 2015.
The settlement is announced in a document filed Monday with the US financial watchdog SEC and has yet to be approved by a judge.
She should end the lawsuit brought by the shareholders in Oakland, California.
The agreement will create an exceptional cost item in the third-quarter results. However, Twitter was still good for a turnover of $1.19 billion in the second quarter.