politics
March 21, 2026
Elon Musk misled Twitter investors ahead of $44 billion acquisition, jury says
Elon Musk was sued in late 2022 after completing his acquisition of Twitter, which he later renamed X.
TL;DR
- A jury found Elon Musk defrauded Twitter shareholders during his $44 billion acquisition.
- Potential damages could amount to $2.6 billion.
- The lawsuit alleged Musk used misleading statements to lower the acquisition price.
- Musk's tweets in May 2022 were found to be materially false or misleading.
- Attorneys for Musk stated they believe the verdict is a 'bump in the road' and plan to appeal.
- The jury did not find evidence of a specific scheme to defraud investors.
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