In brief
In a significant ruling, a jury found that Elon Musk misled Twitter investors during the period surrounding his acquisition of the company for $44 billion. The jury's decision came after two days of deliberation in a federal court in San Francisco. The investors had claimed they were misled by Musk's public comments about the company's user metrics, and his assertions regarding backing out of the deal. Musk maintained in his testimony that his statements had been misinterpreted.
Elon Musk was misleading in his public statements during a crucial period of his 2022 Twitter takeover, a jury has found.
After two days of deliberations, a jury in San Francisco federal court decided against the tech titan, who was sued by a group of Twitter investors arguing they had relied on his statements.
While testifying in court earlier this month, Musk argued that people had read too much into his public comments and tweets.
The jury instead found his public claims of problems in Twitter's user metrics, and that he was backing out of the $44 billion acquisition deal, were intentionally misleading.
