WHY: New York, NY - (NewMediaWire) - September 05, 2022 - Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Twitter, Inc. (NYSE: TWTR) resulting from allegations that Twitter may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Twitter securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=8303 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On August 23, 2022, CNN published an article entitled “Ex-Twitter exec blows the whistle, alleging reckless and negligent cybersecurity policies” which revealed that “Twitter has major security problems that pose a threat to its own users' personal information, to company shareholders, to national security, and to democracy, according to an explosive whistleblower disclosure obtained exclusively by CNN and The Washington Post.” The report also stated that the disclosure was “sent last month to a number of US government agencies and congressional committees, including the Securities and Exchange Commission, the Federal Trade Commission and the Department of Justice” and that the whistleblower is “Peiter ‘Mudge’ Zatko, who was previously the company's head of security, reporting directly to the CEO.” The report further stated, among other things, that “[w]hat Zatko says he found was a company [Twitter] with extraordinarily poor security practices, including giving thousands of the company's employees — amounting to roughly half the company's workforce — access to some of the platform's critical controls.” Finally, the report stated that the disclosure “also alleges that some of the company’s senior-most executives have been trying to cover up Twitter's serious vulnerabilities, and that one or more current employees may be working for a foreign intelligence service.”
On this news, Twitter’s share price fell $3.15 per share, or 7%, to close at $39.86 per share on August 23, 2022, on unusually heavy trading volume.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827