Kaskela Law LLC Announces Stockholder Investigation of Twitter, Inc.
July 27 2018 - 11:06AM
Business Wire
Kaskela Law LLC is investigating Twitter, Inc. (NYSE: TWTR)
(“Twitter” or the “Company”) on behalf of the Company’s
stockholders. The investigation seeks to determine whether Twitter
and its executive officers have violated the federal securities
laws in connection with prior statements made to investors.
On July 27, 2018, Twitter reported quarterly financial and
operational results for the quarter ended June 30, 2018. As
discussed by The Wall Street Journal, “Twitter said its number of
monthly users dropped in the second quarter and could continue to
fall as it purges fake accounts—illustrating the challenges
social-media companies face in trying to clean up their platforms.”
Similarly, Reuters detailed how Twitter “reported fewer monthly
active users than analysts expected and warned that the
closely-watched figure could keep falling as it deletes phony
accounts, sending shares sharply lower in early trading. … Twitter
had said earlier in July that deleting phony accounts would not
have much impact on monthly users, since the purge focused on
inactive accounts. Twitter’s relations with advertisers have been
strained by concerns about phony accounts bought by users to boost
their following.”
Following this news, shares of Twitter’s stock declined
approximately 20% in early trading on July 27, 2018, on heavy
trading volume.
Twitter investors who have suffered a loss in excess of $100,000
are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.)
at (484) 258 – 1585, or via email at skaskela@kaskelalaw.com, to
discuss this investigation and their legal rights and options.
Investors may also receive information about this investigation,
and submit their information to the firm, online at
http://kaskelalaw.com/case/twitter/.
Kaskela Law LLC exclusively represents stockholders in state and
federal courts throughout the country. For additional information
about Kaskela Law LLC please visit www.kaskelalaw.com. This notice
may constitute attorney advertising in certain jurisdictions.
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Kaskela Law LLCD. Seamus Kaskela, Esq.201 King of Prussia
RoadSuite 650Radnor, PA 19087(484) 258 – 1585(888) 715 –
1740www.kaskelalaw.com
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