Twitter Settlement With Diversity Pledge Will Get a Closer Look

Twitter Inc. investors leading a lawsuit against its board failed to secure immediate approval of a $47 million settlement that includes a diversity pledge, when a judge delayed ruling on the deal pending additional proceedings, according to a Delaware Chancery Court filing.

Vice Chancellor Paul A. Fioravanti didn’t indicate the nature of his concerns or questions about the agreement on the one-page judicial action form, which stated simply: “Settlement not approved. Parties to submit supplemental briefing to the court. See transcript.”

No transcript was publicly available Friday, and attorneys for both sides didn’t immediately respond to requests for comment.

If ...