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Twitter Board Will Pay $47 Million to Settle User-Metrics Suits (1)

Nov. 3, 2020, 4:13 PMUpdated: Nov. 3, 2020, 9:11 PM

Twitter Inc.‘s board agreed to add diversity to its ranks as part of a $47 million settlement for shareholder suits over allegedly inflated user metrics.

Corporate governance changes required by the agreement include new independent board members and a promise to consider women and minorities as director candidates, according to a filing docketed Monday in Delaware Chancery Court.

Twitter will also add a chief compliance officer, hold mandatory training sessions for employees and board members, and put in place stronger policies against insider trading.

In addition to the governance changes, Twitter’s board agreed to end the state and federal ...

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