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, 2023 and a corrected amended Complaint on February 15. On March 9, Lead Plaintiff filed a corrected amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on March 31. On August 25, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On September 15, 2023, Lead Plaintiff filed a second amended Complaint. Lead Plaintiff filed a third amended Complaint on October 4. Defendants filed Motions to Dismiss the third amended Complaint on November 10.

On March 5, 2024, the Court issued an Order granting Defendants' Motions to Dismiss and entered judgment in favor of the Defendants.