Elon Musk misled Twitter investors ahead of $44 billion acquisition, jury says [MSNBC.com]
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Source: MSNBC.com
A jury in California found thatElon MuskTotal damages could reach up to $2.6 billion, attorneys for the plaintiffs said.The class action lawsuit,Pampena v. Musk,"This is a great example of what you cannot do to the average investor -- people that have 401ks, kids, pension funds, teachers, firemen, nurses," Joseph Cotchett, an attorney for the Twitter investors, told CNBC at the San Francisco courthouse. "That's what this case was all about. This was not about Musk. It was about the whole operation."In an emailed statement, Musk attorneys with Quinn Emanuel said, "We view today's verdict, where the jury found both for and against the plaintiffs and found no fraud scheme, as a bump in the road. And we look forward to vindication on appeal."After Musk bid to buy Twitter in April 2022, his sentiment towards the deal quickly soured as he cast doubt on the company's claimed level of bots, spam and fake accounts on its platform. Musk wrote in a tweet the following month that his acquisition
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- US jury finds Elon Musk misled Twitter shareholders [Yahoo! Finance]Yahoo! Finance
- Jury finds Elon Musk misled investors during Twitter purchase, absolves him of some fraud claims [Yahoo! Finance]Yahoo! Finance
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- Elon Musk misled Twitter investors while trying to get out of acquisition, jury says [Yahoo! Finance]Yahoo! Finance
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