A jury has determined that Elon Musk was liable for misleading investors by intentionally driving down Twitter’s stock price in the months before his 2022 acquisition of the social media platform, according to court records.
The jury found Musk responsible for the misconduct but cleared him of some allegations related to fraud, the records show.
The case centers on Musk’s purchase of Twitter for $44 billion, a deal finalized in 2022 amid market volatility and intense scrutiny. The court’s decision marks a significant development in the legal proceedings surrounding the transaction.
Representatives for Musk and the plaintiffs did not immediately respond to requests for comment.
Jon Ross Myers is the executive editor and publisher of the Mississippi News Network, Mississippi's largest digital only media company. He can be reached at editor@tippahnews.com
