Twitter Shares Down as Shareholder Lawsuit Surfaces
The suit centers on allegations that Twitter provided misleading guidance to investors in November 2014.
Twitter (TWTR) - Get Report shares were lower Monday after a shareholder claimed in a pending lawsuit that the social media giant misled investors on growth figures such as its user engagement metrics. According to Bloomberg the suit was filed Friday and is based on allegations of misleading guidance the company issued in November 2014. Twitter outlined expected growth of monthly active users by more than 1 billion in the "longer term" and 550 in the more "immediate" future. Twitter shares are now down down roughly 19% since the beginning of the year.
Employees of TheStreet are restricted from owning individual securities.
