Twitter Agrees to Settle 2016 Lawsuit for $800 Million

Twitter agreed to pay $809.5 million to settle a shareholder class action lawsuit from 2016. The lawsuit alleged that the company misled investors about its user numbers.

Twitter and individual defendants deny any wrongdoing or any other improper actions, the company said. The company expects to pay the settlement amount with cash on hand.

The amount would be paid in the fourth quarter of this year. Twitter added it expects to record a charge for this settlement during the third quarter.