US jury finds Elon Musk misled investors during Twitter purchase
Al Jazeera • • general
Key Points:
- A federal jury in California found Elon Musk misled Twitter shareholders through false statements in tweets during his $44 billion acquisition of the company, causing Twitter's share price to drop.
- The class action lawsuit, filed by investor Giuseppe Pampena, could result in Musk paying approximately $2.6 billion in damages, as determined by the jury.
- While the jury ruled Musk violated securities laws by making misleading statements, they did not find that he engaged in a deliberate scheme to defraud investors.
- Musk's legal team announced plans to appeal the verdict, describing it as a setback, and Musk himself has not yet publicly responded to the decision.
- This ruling marks a rare legal defeat for Musk, who was previously cleared of similar
