Angela Lang / CNET
Twitter said Monday it had agreed to pay $ 809.5 million
The settlementthat alleged Twitter and its executives misled shareholders about user growth in November 2014, promising an increase in monthly active users to 550 million in the “medium” term and to more than a billion “long term”. However, Twitter’s user growth remained flat, which led to a sharp drop in its share price, according to the lawsuit.
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The settlement agreement, which does not include an admission of misconduct by Twitter, requires judicial approval.