According to the Complaint, Twitter purports to be a global social media platform for public self-expression and conversation in real time.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business operations and prospects. Specifically, the Complaint alleges that: (1) Twitter knew about security concerns on their platform; (2) Twitter actively worked to hide the security concerns from the board, the investing public, and regulators; (3) contrary to representations in SEC filings, Twitter did not take steps to improve security; (4) Twitter’s active refusal to address security issues increased the risk of loss of public goodwill; and (5) as a result, Defendants’ statements about Twitter’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On December 16, 2022, the Court issued an Order appointing Lead Plaintiff and Counsel. On January 19, 2023, the Court issued an Order approving an additional Law Firm as Co-Lead Counsel. Lead Plaintiff filed an amended Complaint on February 13 and a corrected amended Complaint on February 15. On March 9, Lead Plaintiff filed a corrected amended Complaint.