Weston Family Partnership Lllp v. Twitter, Inc.

FOR PUBLICATION

UNITED STATES COURT OF APPEALS

FOR THE NINTH CIRCUIT

WESTON FAMILY PARTNERSHIP No. 20-17465

LLLP; THE TWITTER INVESTOR

GROUP, D.C. No. Plaintiffs-Appellants, 4:19-cv-07149-

YGR

and

KHAN M. HASAN; KHAFRE OPINION

BARCLIFT,

Plaintiffs,

v.

TWITTER, INC.; JACK DORSEY; NED

SEGAL,

Defendants-Appellees.

Appeal from the United States District Court for the Northern District of California Yvonne Gonzalez Rogers, District Judge, Presiding

Argued and Submitted November 10, 2021 Pasadena, California

Filed March 23, 2022 Before: Daniel P. Collins and Kenneth K. Lee, Circuit Judges, and Jill A. Otake, * District Judge.

Opinion by Judge Lee

SUMMARY **

Securities Fraud

The panel affirmed the district court’s dismissal of a securities fraud lawsuit under §§ 10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5, alleging that Twitter, Inc., misled investors by hiding the scope of software bugs that hampered its advertisement customization.

Twitter shares users’ cell phone location data with companies that pay more for ads tailored to certain users, but it permits users to opt out…