Fakebook and Twitter, To Become Irrelevant

megaphone-2

Advisory: Be careful of what you read on social media. The algorithms used by these platforms have no regard for Biblical truth. They target your emotions to keep you engaged on their site so their advertisers can drop more ads. These platforms exist to enrich their stockholders. Consider God’s promise to Believers in James 1:5, “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.”

Featured Story

Twitter has the right to ban/censor anyone they want but they cannot pretend to value freedom of speech. Facebook and Twitter is going to become irrelevant.

Twitter Pays $800 Million To Settle Lawsuit Alleging Company Provided Misleading User Metrics To Investors

Twitter has reached an $809 million class action lawsuit settlement to resolve claims that the company “provided misleading user-engagement info to investors”.

A lawsuit filed in 2016 alleged that Jack Dorsey and former CEO Dick Costolo, in addition to board member Evan Williams, hid information about the social media company’s slowing user growth while they sold their personal stock holdings. The sales netted “hundreds of millions of dollars in insider profits,” the suit alleged, according to Variety

Among the allegations were that the company didn’t reveal that to investors that its DAU figures showed that user engagement was flat or declining at the time. 

Twitter’s 8-K, filed Monday, read: 

The binding agreement, which is subject to certain conditions, including court approval of a final settlement agreement, requires the Company to pay $809.5 million for claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The binding agreement does not, and the final settlement agreement will not, include or constitute an admission, concession, or finding of any fault, liability, or wrongdoing by the Company or any defendant. There can be no assurance that the final settlement agreement will be executed or that such agreement will be approved by the court.

The Company intends to use cash on hand to pay the settlement amount, which is expected to be paid in the fourth quarter of 2021. The Company expects to record a charge for the settlement during the third quarter of 2021.

While Twitter will be able to easily pay the settlement with its over $4 billion on hand, the $800 million amount isn’t immaterial.

Meanwhile Twitter went ahead an started using the mDAU data it now uses with its Q4 2018 results, explaining to investors that it “best reflects its goals of driving monetizing usage”. 

mDAUs are described as “the average number of ‘people, organizations or other accounts who logged in or were otherwise authenticated and accessed Twitter on any given day through twitter.com or Twitter applications that are able to show ads.'”

 
 

Sources for this article include:

HNewsWire.com   ZeroHedge

watchman-on-wall

Tagged In

Newsletter

Must Read

Long-Journey-Home-1
One-Thing
Mark-Cahill-Ministries-1
One-Blinding-Vision

Other Sources

USSANews

Latest News

The Normalization of Satanism and Witchcraft Is Now Complete Most Satanists

By StevieRay Hansen | January 11, 2021

Devil Worshipers Diabolists, Luciferians, and members of the Church of Satan claim to have roots in LaVeyan Satanism, named after Anton LaVey, the author of…

Read More

When Will the American People Realize That Satan Soldiers are the

By StevieRay Hansen | January 11, 2021

Biggest Threat to American Freedom Is Not From Without but From Within Its Very Own Walls, Where It Has Been Prominently Residing for the Last…

Read More

DON’T BE SATAN CLAUS-ED BY THE PAGAN DOCTRINE OF ORIGINAL SIN!

By Edward O'Hara | January 10, 2021

Because Santa(satan) Claus Christianity can not save you. That’s the perversion the pagan doctrine of original sin has made of the gospel. Saying that just as Santa…

Read More

Trump Will Remain in Office for the Next Four Years There Will Be Chaos and Most

By StevieRay Hansen | January 10, 2021

Likely Martial Law Enacted Upon the American Public… Martial law in the United States refers to times in United States history in which in a…

Read More

Social Media Website Parler Claims to Be a Beacon for Free Speech

By StevieRay Hansen | January 10, 2021

That Simply Is Not True , The Sheep People Will Figure This Out When They Shadow Banned or Removed Those Accounts They Do Not Agree…

Read More
Focused-Protection-1
Place Your Ad Here

We make every effort to acknowledge sources used in our news articles. In a few cases, the sources were lost due to a technological glitch. If you believe we have not given sufficient credit for your source material, please contact us, and we will be more than happy to link to your article.

StevieRay Hansen

In his riveting memoir, "A Long Journey Home", StevieRay Hansen will lead you through his incredible journey from homeless kid to multimillionaire oilman willing to give a helping hand to other throwaway kids. Available on Amazon.

Leave a Comment