Twitter offers to cough up 80 days of annual sales to settle 'false' user count lawsuit

Twitter has offered to pay $809.5m to settle a class-action lawsuit filed in 2016 accusing it of misleading investors by falsely inflating its number of monthly active users. “The proposed settlement resolves all claims asserted against Twitter and the other named defendants without any admission, concession or finding of any …

[Doctor Syntax]

"Twitter has offered to pay $809.5m"

As it's the investors own money it would be a zero sum game were it not for the addition payments to the lawyers to sort it all out.

[Imhotep]

In the US, many of these class action lawsuits are actually intigated by the law firms. They supply an injured party and by making it a class action suit generate a huge payday for the firm. For the actual injured parties, maybe a coupon that gives a discount on buying something else from the company that screwed them over in the first place.

The federal court in East Saint Louis, among others, is notorious for juries delivering huge rewards on minimal evidence.

[David 155]

How many of their users are bots?

[John Brown (no body)]

Fraud

""without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant,"

Clearly they expect to lose in a fraud trial. Here's hoping their "bribe" to make it go away is rejected and it goes to trial. If it was a policy, likely IMHO, then someone, somewhere is holding the smoking gun and could go to prison. It's about time some of these $BigCorp were properly held to account instead of buying their way out of trouble.