SAN FRANCISCO (Legal Newsline) — A stock holder is suing Twitter, alleging false and misleading representations of the defendant's stock price.
Doris Shenwick, as trustee for the Doris Shenwick Trust, filed a class action complaint, individually and on behalf of all others similarly situated, Sept. 16 in U.S. District Court for the Northern District of California against Twitter Inc., Richard Costolo and Anthony Noto, alleging violation of the 1934 Securities Exchange Act.
According to the complaint, Shenwick suffered economic harm and damages for purchasing Twitter common stock at artificially inflated prices. The plaintiff alleges the defendants artificially inflated the price of Twitter common stock during the class period and failed to disclose adverse facts known about Twitter.
Shenwick seeks trial by jury, an order certifying this a proper class action, designating the plaintiff and her counsel as class representatives, award for damages, plus interest, attorney fees and all other relief the court deems just.
She is represented by attorneys Shawn A. Williams of Robbins Geller Rudman & Dowd LLP in San Francisco, David C. Walton and Daniel S. Drosman of Robbins Geller Rudman & Dowd LLP in San Diego, and by Jeffrey S. Abraham of Abraham, Fruchter, & Twersky LLP in New York.
U.S. District Court for the Northern District of California Case number 3:16-cv-05314