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Twitter will pay $809.5 million to settle a class-action lawsuit that originated in 2016, accusing the company of misleading its investors about user engagement and growth.
The complaint was based on projections made by Twitter at an event for analysts in 2014, when it said that by 2018, its monthly active users would double to more than 550 million and its revenue would reach $4.6 billion.
The plaintiffs wrote in the complaint, “(Had Twitter) provided investors with complete and accurate information regarding user engagement, investors would have learned that Twitter’s MAU growth—and with it, the company’s ability to increase revenue—had also stalled.”
Twitter stopped reporting MAUs in April 2019, pivoting to mDAU (monetized daily active users), or daily users who see ads.
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