economy
March 21, 2026
Musk responsible for Twitter investors’ stock dropping when he bought company, jury rules
California jurors hand win to investors who sued billionaire saying he publicly disparaged social media platform in 2022
TL;DR
- A California jury has ruled Elon Musk is responsible for the drop in Twitter investors' stock prices.
- Investors sued Musk, alleging he publicly disparaged Twitter to lower its stock price for a better deal during his $44bn purchase attempt in 2022.
- Musk's lawyers argued he was voicing legitimate concerns and had no intention to manipulate the stock price.
- The jury found Musk responsible for disparaging the company, leading to an "unusual loss" for the billionaire.
- The exact amount Musk will pay to investors is yet to be determined, but it could be billions of dollars.
- Two of the four fraud claims were confirmed, while two were rejected, and the jury found Musk did not engage in a "scheme to defraud Twitter investors".
- Musk's legal team stated they "look forward to vindication on appeal."
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