March 06, 2024
The social media site X, formerly known as Twitter, does not have to face shareholders' claims that they were misled and kept in the dark about the platform's cybersecurity concerns, a California federal judge ruled while scolding the shareholders for filing an "unnecessarily lengthy, puzzling and burdensome complaint."
August 28, 2023
A California federal judge ripped shareholders of X — formerly known as Twitter — for sloppy legal writing in their proposed stock-drop class action over alleged cybersecurity misrepresentations, but said he'll give some claims another chance, provided the shareholders use "common sense" and follow a "simple formula" when drafting their amended complaint.
September 14, 2022
Twitter Inc. shareholders lodged a proposed class action in California federal court Tuesday in the wake of a whistleblower complaint by former Twitter security chief Peiter Zatko, claiming they were misled and kept in the dark about the platform's security concerns.