Twitter Announces Settlement In Class Action Lawsuit

Twitter ($TWTR@US) announced today that it entered into a binding agreement to settle a 2016 consolidated class action lawsuit. The proposed settlement resolves all claims against Twitter, but Twitter and the individual defendants continue to deny any wrongdoing or improper actions. The company will pay $809.5 million for claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The final settlement agreement will be subject to approval by the Court.