NEW DELHI: Twitter Inc.
said on Monday it would pay $ 809.5 million to complete the shareholder class action lawsuit starting in 2016 that accused the company misleading investors about the number of daily and monthly users’ user involvement.
Individual and Twitter defendants continue to deny any mistakes or other improper actions, the company said in submitting regulations.
The micro-blogging site expects to pay the amount of settlement with cash, he said, adding that the number will be paid in the fourth quarter of this year.
Twitter also said it expects to record costs for this completion during the third quarter.
Twitter is not immediately available to comment on more details about the lawsuit.
The case began in 2016 in the United States District Court for the northern district of California.