Chancery Reluctantly OKs $47M Twitter Settlement

Law360 (July 27, 2021, 6:11 PM EDT) — A Delaware vice chancellor approved “with some reluctance” on Tuesday a $38 million settlement of derivative claims targeting allegations that Twitter’s top brass inflated the social media giant’s user data measurements, after sidelining the deal for further review in March.Vice Chancellor Paul A. Fioravanti approved in the same hearing an $8.75 million attorney fee for the consolidated action, while noting that the amount was at “the high end” for an early-stage settlement.The approval followed the vice chancellor’s call after a hearing in March for further briefing on whether the Chancery deal would effectively provide Twitter with an insurer “prepayment… Stay ahead of the curve In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. Access to case data within articles (numbers, filings, courts, nature of suit, and more.) Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc. Create custom alerts for specific article and case topics and so much more! TRY LAW360 FREE FOR SEVEN DAYS
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