{"id":71365,"date":"2026-03-20T22:04:00","date_gmt":"2026-03-20T22:04:00","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/jury-finds-elon-musk-liable-for-misleading-investors-during-twitter-purchase\/"},"modified":"2026-03-20T22:04:00","modified_gmt":"2026-03-20T22:04:00","slug":"jury-finds-elon-musk-liable-for-misleading-investors-during-twitter-purchase","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/jury-finds-elon-musk-liable-for-misleading-investors-during-twitter-purchase\/","title":{"rendered":"Jury finds Elon Musk liable for misleading investors during Twitter purchase"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"article-0\">\n  <!-- lil observer --><\/p>\n<section class=\"content__body\">\n<p>A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter&#8217;s stock price in the tumultuous months leading up to his <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-twitter-sale-official-44-billion\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">2022 acquisition<\/a><\/span> of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not &#8220;scheme&#8221; to mislead investors.<\/p>\n<p>The civil trial in San Francisco centered on a class-action lawsuit filed just before Musk took control of Twitter, which he later renamed X. Jurors were asked to decide if two tweets and comments Musk made on a podcast in May 2022 amounted to him intentionally defrauding Twitter shareholders, who sold their shares based on Musk&#8217;s statements.<\/p>\n<p>The nine-person jury returned the verdict after 3 days of deliberation, nearly three weeks after the trial began on March 2. They said that while Musk was liable for misleading investors with two tweets \u2014 including one said the Twitter deal was &#8220;temporarily on hold,&#8221; he did not do so with a statement he made on a podcast and that he did not intentionally &#8220;scheme&#8221; to defraud investors.<\/p>\n<p>CBS News has reached out to X for comment on the ruling.\u00a0<\/p>\n<p>Because it is a class action case, it is not clear what amount in damages Musk will have to pay to thousands of shareholders, many of them institutional investors, but it is likely in the billions. The jury awarded shareholders between about $3 and $8 per stock per day<\/p>\n<p>Musk&#8217;s fortune is currently estimated at about $814 billion, much of it tied up in Tesla shares.<\/p>\n<p>Much of the trial focused on Musk&#8217;s claims about the number of bots on Twitter. <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-twitter-shareholder-trial-testimony\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Musk testified<\/a><\/span> that Twitter had a much higher number of fake and spam accounts than the 5% it disclosed in regulatory filings. He used what he called Twitter&#8217;s misrepresentation of the number of fake accounts on its service as a reason to retreat from the purchase.<\/p>\n<p>After Musk tried to back out, Twitter went to court in Delaware to force him to honor his original deal. Just before that case was scheduled to go to trial, Musk reversed course again and agreed to pay what he had originally promised.<\/p>\n<section class=\"content__body--footer\">\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n        <\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section>\n<\/section>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/elon-musk-liable-for-misleading-investors-during-twitter-purchase-jury-finds\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter&#8217;s stock price in the tumultuous<\/p>\n","protected":false},"author":1,"featured_media":71366,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[703,1204,2337],"class_list":["post-71365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us","tag-elon-musk","tag-lawsuit","tag-twitter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jury finds Elon Musk liable for misleading investors during Twitter purchase - World News<\/title>\n<meta name=\"description\" content=\"A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter&amp;#039;s stock price in the tumultuous months leading up to his 2022 acquisition&#8203; of the social media company.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/jury-finds-elon-musk-liable-for-misleading-investors-during-twitter-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jury finds Elon Musk liable for misleading investors during Twitter purchase - World News\" \/>\n<meta property=\"og:description\" content=\"A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter&amp;#039;s stock price in the tumultuous months leading up 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