0
Wireless

Twitter sued by shareholder for 'misleading' investors

Monday 19 September 2016 | 09:06 CET | News
A shareholder of Twitter has sued the company for making misleading statements about its expected results prior to the recent fall in the company's share price. Former Twitter CEO Dick Costolo and current CFO Anthony Noto are named in the suit, which was filed in a Northern California District Court, Re/code reports. The plaintiff, Doris Shenwick claims that Costolo and Noto made "false statements that caused the price of Twitter common stock to be artificially inflated" during the period between its Q4 2014 and Q2 2015 earnings reports. The company's share price has fallen more than 60

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Twitter
Countries: World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Twitter agrees USD 810 million settlement of investor class-action suit

Published 20 Sep 2021 15:56 CET | World
Twitter has agreed to pay USD 809.5 million to settle claims it violated stock market regulations in the US. The proposed ...

Twitter names new CFO

Published 12 Jul 2017 08:39 CET | World
Twitter announced the appointment of Ned Segal as its new chief financial officer, from late August. Segal replaces Anthony Noto, ...

Twitter confirms 9% cut in workforce, targets profit in 2017

Published 27 Oct 2016 16:02 CET | World
Twitter has confirmed plans to cut 9 percent of its workforce as the company works towards a goal of profitability in 2017. In ...

Salesforce still interested in Twitter - report

Published 11 Oct 2016 09:10 CET | World
Salesforce.com is still considering a bid for Twitter, despite resistance from some shareholders about the strategic merits and ...

Twitter seeks takeover deal by end-Oct - report

Published 06 Oct 2016 08:33 CET | World
Twitter has told potential acquirers it is seeking to conclude negotiations about selling itself by the time it reports ...

Twitter warns for slowdown in ad revenue

Published 26 Jul 2016 23:01 CET | World
Twitter reported second-quarter revenues up 20 percent year-on-year to USD 602 million, while its net loss narrowed to USD 107 ...

Twitter revenues up 30%, at low end of expectations

Published 27 Apr 2016 08:34 CET | World
Twitter halved its net loss in the first quarter as revenues increased 30 percent year-on-year. The net loss narrowed to USD 79.7 ...

Twitter shifts company structure as Q4 net loss narrows

Published 11 Feb 2016 09:32 CET | World
Twitter said fourth quarter revenues jumped 48 percent from the year before to USD 710 million. Excluding negative forex effects, ...

Twitter quarterly results better than forecast

Published 28 Oct 2015 08:18 CET | World
Twitter reported third-quarter revenues up 58 percent year-on-year to USD 569 million, better than its outlook of USD 545-560 ...

Twitter to reduce workforce by 8%

Published 14 Oct 2015 08:54 CET | World
Twitter announced plans to cut 336 jobs, equal to around 8 percent of its total workforce. Twitter said in a SEC filing that the ...

Twitter narrows net loss as Q2 revenues lift to USD 502 mln

Published 29 Jul 2015 07:46 CET | World
Twitter reported second-quarter revenues of USD 502 million, up 61 percent from the year-earlier figure and above its guidance of ...

Twitter lowers FY outlook after revenue growth slows in Q1

Published 29 Apr 2015 09:20 CET | World
Twitter reported first-quarter revenues of USD 436 million, up 74 percent from the year-earlier figure but lower than the ...

Twitter narrows loss as EBITDA reaches record high in Q4

Published 06 Feb 2015 07:57 CET | World
Twitter's fourth-quarter revenues soared 97 percent from the year before to USD 479 million. Advertising revenue lifted 97 ...