Elon Musk misled Twitter shareholders, US jury finds

A federal jury in California found on Friday that tech titan Elon Musk misled Twitter shareholders in an effort to drive down the company’s share price as he was poised to buy it in a US$44 billion deal. The verdict in a class action securities lawsuit means the world’s richest person could be ordered to pay out as much as US$2.6 billion, according to damages calculated by jurors. Giuseppe Pampena filed the suit against Musk on behalf of people who sold Twitter shares between mid-May of 2022 ...

By Agence France-Presse

Jury finds Elon Musk misled investors during Twitter purchase, absolves him of some fraud claims

The civil trial in San Francisco centered on a class-action lawsuit filed just before Mr. Musk took control of Twitter, which he later renamed X

$44 bn acquisition: US jury finds Musk ‘misled’ Twitter shareholders in 2022

A federal jury found Elon Musk liable for defrauding Twitter investors in 2022 by disparaging the company to secure a lower purchase price. Jurors concluded Musk intentionally misled shareholders through two tweets, including one stating the deal was "temporarily on hold," but absolved him of a broader scheme to defraud.

By TOI BUSINESS DESK

Jury finds Elon Musk misled investors in Twitter deal, absolves him of some fraud claims

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

Jury Finds Elon Musk Misled Investors During 2022 Twitter Purchase

A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition.

Musk found liable to Twitter shareholders in fraud lawsuit over $44 billion takeover, Bloomberg says

Elon Musk misled Twitter shareholders – US jury finds

A federal jury in California Elon Musk misled Twitter shareholders by bashing the company as he was poised to buy it in a $44 billion deal The post Elon Musk misled Twitter shareholders – US jury finds appeared first on Vanguard News.

By Oboh