Elon Musk's Twitter Claims Ruled Misleading in Investor Lawsuit
A San Francisco jury finds that Elon Musk's statements in 2022 about Twitter were false and damaging to a group of the social media platform's investors.
Elon Musk, the CEO of Tesla and now the owner of Twitter, has been found liable by a San Francisco jury for making misleading claims to Twitter investors in 2022. The jury concluded that Musk's statements, which included assertions about the number of Twitter users and the platform's financial health, were inaccurate and damaging to a group of Twitter shareholders.
The case stems from a class-action lawsuit filed by Twitter investors who alleged that Musk's tweets and public statements in the months leading up to his $44 billion acquisition of the social media company artificially inflated Twitter's stock price, causing them to suffer significant losses when the deal eventually closed.
Source: BBC News
