SAN DIEGO, April 18, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Twitter, Inc. (“Twitter” or “the Company”) (NYSE: TWTR).
What is Johnson Fistel investigating? On April 4, 2022, Elon Musk disclosed the purchase of 9.2% stake in Twitter. This announcement was followed by a 27% increase in the stock price on the same day. Under Section 13(d) of the Exchange Act and SEC Rule 13d-1 promulgated thereunder, 17 C.F.R. § 240.13d-1(a), Musk was required to file a Schedule 13 with the SEC within 10 days of passing the 5% ownership threshold in Twitter, or March 24, 2022. Investors who sold the Company’s shares between March 14, 2022, the date on which Musk should have disclosed his stock purchases, and April 4, 2022, the date he did disclose his purchases, potentially lost out on significant gains when the market reacted to Musk’s disclosure.
What actions may I take at this time? If you purchased Twitter securities and suffered significant losses on your investment, contact Johnson Fistel, LLP to submit your losses:
- Contact Lead Securities Analyst Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
- Click or paste the following web address into your browser to join the investigation:
https://www.johnsonfistel.com/investigations/twitter-inc-twtr
For more information, visit our website at https://www.johnsonfistel.com/faq
There is no cost or obligation to you.
What if I have information relevant to the investigation? Individuals with nonpublic information regarding Twitter should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
