In addition to paying $810 million settlement to resolve a shareholder class action against Twitter Inc., it will have to pay an additional $182 million in attorneys fees, according to Reuters.
The lawsuit, filed in 2016, well before Musk brough up the issue, accused the social media company of deceiving investors about the platform’s user metrics.
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Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.