Elon Musk misled Twitter investors, jury finds

A San Francisco jury unanimously found that Elon Musk misled Twitter investors during his 2022 takeover by making public statements that artificially pushed the stock price down. The verdict concluded that his tweets about bots and possibly backing out of the deal were intentionally deceptive. Jurors estimated the impact at $3 to $8 per share, meaning investors could receive thousands in damages. Lead plaintiff Brian Belgrave testified he sold shares at a loss because he believed Musk was abandoning the deal. Musk argued he was simply “speaking his mind,” but the jury rejected that defense.

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