New York, New York–(Newsfile Corp. – May 11, 2022) – WHY: Rosen Law Firm, a global investor rights law firm, reminds sellers of Twitter, Inc. TWTR between March 24, 2022 and April 1, 2022 inclusive (the “Class Period”), the significant Deadline of June 13, 2022 for the main applicant.
SO WHAT: If you sold Twitter securities during the Class Period, you may be entitled to compensation without payment of disbursements or fees through a contingency fee arrangement.
WHAT TO DO NEXT: To join the class action on Twitter, go to https://rosenlegal.com/submit-form/?case_id=5134 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court no later than June 13, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: Elon Musk, the founder of Tesla and Space-X, and according to Forbes, the richest person in the world, began acquiring shares of Twitter in January 2022. By March 14, 2022, Musk had acquired more than a stake of 5% in Twitter, requiring it to file a Schedule 13 with the U.S. Securities and Exchange Commission (“SEC”) within 10 days, or March 24, 2022. However, Musk did not file a Schedule 13 with the SEC within the required timeframe and instead continued to amass Twitter stock, eventually acquiring a more than 9% stake in the company before finally filing a Schedule 13 on April 4, 2022.
After Musk belatedly filed the required Schedule 13, which revealed his Twitter stake to the public for the first time, the company’s shares fell from a closing price of $39.31 per share on April 1, 2022. to $49.97 per share on April 4, 2022. – an increase of 27%.
Investors who sold shares of Twitter between March 24, 2022 and April 4, 2022 missed the resulting share price increase as the market reacted to Musk’s buying. By failing to disclose his stake in a timely manner, Musk was able to acquire shares of Twitter cheaply during the Class Period.
To join the class action on Twitter, go to https://rosenlegal.com/submit-form/?case_id=5134 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future upturn does not depend on their status as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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