A San Francisco jury found Friday that Elon Musk misled Twitter shareholders by driving down the company’s stock ahead of his $44 billion acquisition in 2022, the jury’s verdict shows.
Jurors were asked whether two tweets and comments made by Musk on a podcast showed that he deliberately defrauded shareholders and drove down the stock price, according to court proceedings.
The finding came in the wake of Musk’s 2022 takeover fight for Twitter. The verdict addresses the conduct of Musk’s public statements during that period, the court record shows.
The jury returned its decision Friday in San Francisco, according to the verdict. Further details about remedies or next steps were not provided in the material supplied with the verdict.
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
