Welcome
Securities Law

Twitter’s Dorsey Sued Over Hack, FTC Probe, Square CEO Role (1)

Feb. 23, 2021, 3:51 PM; Updated: Feb. 23, 2021, 4:05 PM

A Twitter Inc. investor sued CEO Jack Dorsey in Delaware on Tuesday, claiming his other role at the helm of Square Inc., which harvests social media data, led him to promote privacy violations at Twitter that could yield a Federal Trade Commission fine of up to $250 million.

Dorsey’s “laissez-faire attitude” has “resulted in Twitter’s failure as a gatekeeper of private user data” by heralding “increased access for advertisers” through “invasive and improper tracking and harvesting of behavioral data,” the lawsuit says.

Meanwhile, “Twitter’s lax privacy protections afforded Dorsey the opportunity to convert many non-paying users of Twitter into...

To read the full article log in. To learn more about a subscription click here.