Investor Claims In Twitter Stock-Drop Suit Fall Short Of Pleading Standards

Mealey's (December 15, 2020, 1:30 PM EST) -- OAKLAND, Calif. — A federal judge in California on Dec. 12 ruled that lead plaintiffs in a securities class action lawsuit against social media platform Twitter Inc. and two of its senior executives failed to plead any materially false or misleading statements in alleging that the defendants misrepresented that improvements made to the company’s mobile application promotion (MAP) advertising product would generate more revenue for the company in violation of federal securities laws (In re Twitter Inc. Securities Litigation, No. 19-7149, N.D. Calif., 2020 U.S. Dist. LEXIS 232586)....