Jury finds Musk misled investors during Twitter purchase
A jury has found Elon Musk liable for defrauding investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion.
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LampLighter
Joined 2013/04/13Visited 2026/03/21
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... The nine-person jury returned the verdict after nearly four days of deliberation, nearly three weeks after the trial began on March 2. They said that while Musk was liable for misleading investors with two tweets -- including one said the Twitter deal was "temporarily on hold," he did not do so with a statement he made on a podcast and that he did not intentionally "scheme" to defraud investors. The jury awarded shareholders between about $3 and $8 per stock per day as damages, which the plaintiffs' lawyers said amounts to about $2.1 billion in stock and another $500 million in options. Musk's fortune is currently estimated at about $814 billion, much of it tied up in Tesla shares. ...
They said that while Musk was liable for misleading investors with two tweets -- including one said the Twitter deal was "temporarily on hold," he did not do so with a statement he made on a podcast and that he did not intentionally "scheme" to defraud investors.
The jury awarded shareholders between about $3 and $8 per stock per day as damages, which the plaintiffs' lawyers said amounts to about $2.1 billion in stock and another $500 million in options. Musk's fortune is currently estimated at about $814 billion, much of it tied up in Tesla shares. ...
#1 | Posted by LampLighter at 2026-03-21 08:09 PM | Reply
The Jury's conclusion seems to be that Mr Musk does things without thinking them through beforehand.
That is, no plan behind what he does. Just spur of the moment actions.
OK, that may explain a lot of Mr Musk's actions against our government via his DOGE ... little thinking or planning, just spur of the moment actions.
#2 | Posted by LampLighter at 2026-03-21 10:07 PM | Reply
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