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TWITTER INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Twitter, Inc. Following Disappointing Results and Analysts Downgrades
NEW ORLEANS--(BUSINESS WIRE)-- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Twitter, Inc. (NYSE:TWTR).
On February 5, 2014, Twitter announced its results for the fourth quarter of 2014, disclosing that its average monthly active user (MAU) count was only 241 million, where analysts were expecting 243 million to 250 million or more MAUs. Additional user metrics, such as timeline views on Twitter and the number of timeline views for each MAU, were also less than analysts' expectations.
On this news, Twitter was downgraded by multiple analysts, and the price of its shares plummeted by over 24%—from $65.97 on February 5 to $50.03 on February 6, 2014.
KSF's investigation is focusing on whether Twitter and/or its officers and directors violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis Kahn (email@example.com) or KSF Partner Melinda Nicholson (firstname.lastname@example.org) toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Source: Kahn Swick & Foti, LLC