SAN DIEGO, May 23, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP (J&W) is investigating potential violations of the federal securities laws by Twilio Inc. (NYSE: TWLO) and certain of its officers. Twilio provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications through the cloud in the United States and internationally.
On October 21, 2016, Twilio, Inc. completed a secondary stock offering of 7.0 million shares of stock at $40.00 per share. The selling stockholders included certain of Twilio's executive officers and directors. None of the proceeds from the sale of shares, offered by the selling stockholders, went back into the Company. The completion of the secondary was a negative outcome for many shareholders, as Twilio the stock traded at over $70 the previous month. Since the secondary, the stock has plummeted, even more, closing at $24.96 per share on May 22, 2017.
Specifically, Johnson & Weaver's investigation seeks to determine whether certain statements regarding the Company's business and prospects were false and misleading when made.
If you acquired Twilio shares in October 21, 2016, secondary offering, and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or by phone at 619-814-4471. If emailing, please include a phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP