Twitter has agreed to pay US$809.5 million to settle a shareholder class action lawsuit alleging that the social media company misled investors about how frequently its platform was used.
The settlement brought an end to a case that was about to go to trial. Jury selection was set to begin on Monday, but US District Judge Jon Tigar in Oakland, California, postponed it until late November at a hearing on September 17.
In consenting to the settlement, Twitter, former Chief Executive Officer Richard Costolo, and former Chief Financial Officer Anthony Noto denied wrongdoing.
To Read More: Reuters
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