SAN FRANCISCO, Sept. 1, 2022 /PRNewswire/ -- Hagens Berman urges Twitter, Inc. (NYSE: TWTR) investors who suffered significant losses to submit your losses now.
Twitter, Inc. (NYSE: TWTR) Investigation:
In March 2011, Twitter agreed to a settlement with the Federal Trade Commission that barred it 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."
Since then, Twitter has repeatedly claimed that it prioritizes improving the experience for people using its products and services, and that it has taken measures to help protect the privacy of people on Twitter.
Twitter's claims came into serious question on Aug. 23, 2022, when The Washington Post reported that Peiter "Mudge" Zatko, Twitter's former head of security, filed a complaint with the SEC in July 2022 accusing the company of violating the terms of the FTC settlement. According to the Post, Zatko repeatedly raised concerns about "Twitter's grossly inadequate information security systems to the Company's Executive Committee and Board of Directors" and that protections for sensitive user data were weaker than they had been told.
This news sent the price of Twitter shares down over 7% lower on Aug. 23, 2022, wiping out over $2 billion of shareholder value.
"We're focused on investors' losses and whether Twitter lied about its commitment to protect users' nonpublic information," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Twitter and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Twitter should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email TWTR@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895
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SOURCE Hagens Berman Sobol Shapiro LLP