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Musk misled Twitter investors before 2022 buyout, jury says [Fortune]
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Recommended Video Jurors in federal court in San Francisco found Friday that Musk intentionally misled Twitter shareholders when he tweeted that the social network — now called X — had too many fake accounts and tried to back out of the deal. The jury rejected two of the four fraud claims. The eight-member panel calculated how much Musk's statements drove down the company's stock price for each trading day over a period of about five months. The amount of damages he must pay to individual investors — which could total hundreds of millions or even billions of dollars — will be determined at a later date when shareholders submit claims. The verdict, following about three days of deliberations, marks a rare defeat in court for the world's richest person, who has been dubbed “ Teflon Elon ” for his track record of winning high-stakes legal battles that many expected him to lose. He prevailed in a 2023 trial over Tesla Inc. investors' allegations that he misled them in a tweet fiv
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- US jury finds Elon Musk misled Twitter shareholders [Yahoo! Finance][Yahoo! Finance]
- Elon Musk misled Twitter investors ahead of $44 billion acquisition, jury says [MSNBC.com][MSNBC.com]
- Jury finds Elon Musk misled investors during Twitter purchase, absolves him of some fraud claims [Yahoo! Finance][Yahoo! Finance]
- 1 Little-Known Stock to Buy to Bet on Mine-Sweeping Tech in the Strait of Hormuz [Yahoo! Finance][Yahoo! Finance]
- Elon Musk misled Twitter investors while trying to get out of acquisition, jury says [Yahoo! Finance][Yahoo! Finance]
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