US jury finds Elon Musk misled Twitter shareholders [Yahoo! Finance]
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Source: Yahoo! Finance
Josh Edelson/GETTY IMAGES NORTH AMERICA/Getty Images via AFP A federal jury in California found Friday that tech tycoon Elon Musk misled Twitter shareholders, driving down the company's share price as he was poised to buy it in a $44 billion deal. The verdict in the class action securities lawsuit means the world's richest person could be ordered to pay billions of dollars, according to damages calculated by jurors. Minutes after the judgment was announced, the entrepreneur's lawyers informed AFP that their client will appeal the decision, characterizing it as a "setback." After a three-week trial in a San Francisco federal court -- which included in-person testimony from Musk -- the jury found that two tweets posted in May 2022 by the Tesla and SpaceX CEO contained false statements responsible for a plunge in Twitter's share price. Investor Giuseppe Pampena had filed the suit on behalf of people who sold Twitter shares between mid-May and early October 2022. Musk acquire
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TSLA
News
- 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
- Musk misled Twitter investors before 2022 buyout, jury says [Fortune]Fortune
- 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
TSLA
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- 1/28/26 - Beat
TSLA
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- 3/9/26 - Form 4
- 3/6/26 - Form 144
- 2/27/26 - Form 4
- TSLA's page on the SEC website