In brief
In a decisive ruling, a jury in San Francisco has concluded that Elon Musk misled investors during his acquisition of Twitter, which amounts to a $44 billion deal. The case stemmed from claims that Musk's public statements caused harm to investors who relied on inaccurate information regarding the platform's user metrics. Musk defended himself by stating that his comments were often misinterpreted.
Elon Musk was misleading in his public statements during a crucial period of his 2022 Twitter takeover, a jury has found. After two days of deliberations, a jury in San Francisco federal court decided against the tech titan, who was sued by a group of Twitter investors arguing they had relied on his statements.While testifying in court earlier this month, Musk argued that people had read too much into his public comments and tweets. The jury instead found his public claims of problems in Twitter's user metrics, and that he was backing out of the $44 billion acquisition deal, were intentionally misleading.
