Elon Musk misled Twitter investors, jury finds

3 hours ago

Elon Musk found guilty of misleading Twitter investors during his 2022 takeover.
Jury ruled Musk's public statements about Twitter's user metrics and deal status were intentionally misleading.
Musk's statements allegedly lowered Twitter's stock price by $8 to $3 per share between May and October 2022.
Investors, led by Brian Belgrave, claimed financial losses due to Musk's misleading tweets.
Musk defended himself by stating people read too much into his public comments.
Belgrave testified he sold shares at a loss, believing Musk would back out of the deal.
Musk was combative during testimony, refusing to answer questions directly.
This case highlights the legal consequences of influential figures moving markets with their statements.
Twitter (now X) was eventually acquired by Musk at the original $44bn price after legal pressure.

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