A jury in San Francisco has found Elon Musk liable for misleading investors during his 2022 acquisition of Twitter.
The case focused on whether Musk’s public statements, particularly a tweet claiming the deal was “temporarily on hold,” influenced the company’s stock price and caused losses for shareholders.
However, the jury did not find that Musk carried out a broader fraud scheme, even though potential damages could exceed $2.5B.
Follow (@entrepreneursonig) for everything related to entrepreneurs.
Media: Fred Lambert
A jury in San Francisco has found Elon Musk liable for misleading investors during his 2022 acquisition of Twitter.
The case focused on whether Musk’s public statements, particularly a tweet claiming the deal was “temporarily on hold,” influenced the company’s stock price and caused losses for shareholders.
However, the jury did not find that Musk carried out a broader fraud scheme, even though potential damages could exceed $2.5B.
Follow (@entrepreneursonig) for everything related to entrepreneurs.
Media: Fred Lambert
