Twitter Seeks to Settle 2016 Class Action Lawsuit for $800 Million

Twitter Seeks to Settle 2016 Class Action Lawsuit for $800 Million
A Twitter logo is seen outside the company headquarters in San Francisco, Calif., on Jan. 11, 2021. Stephen Lam/Reuters
Reuters
Updated:

Twitter Inc. said on Monday it would pay $809.5 million to settle a shareholder class action lawsuit from 2016 that alleged the company misled investors about its daily and monthly user engagement numbers.

The individual defendants and Twitter continue to deny any wrongdoing or any other improper actions, the company said in a regulatory filing.