“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,” explained Twitter in its regulatory filing.
Additionally, the social media company disclosed that it will use its cash on hand to pay the settlement amount, which is expected in the fourth quarter of 2021. It also expects to record a charge for the settlement in the third quarter of 2021.
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