Twitter seeks to settle 2016 class action lawsuit for $800 million

FILE PHOTO: A Twitter logo is seen outside the company headquarters in San Francisco, California, U.S., January 11, 2021. REUTERS/Stephen Lam

(Reuters) -Twitter Inc said on Monday it would pay $809.5 million to settle a shareholder class action lawsuit accusing the social media company of deceiving investors about how often people used its platform.

The settlement resolved a case that had been on the verge of going to trial. Jury selection had been scheduled to begin on Monday, but at a Sept. 17 hearing U.S. District Judge Jon Tigar in Oakland, California postponed it until late November.