Musk responsible for Twitter investors’ stock dropping when he bought company, jury rules
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A California jury ruled that Elon Musk is liable for the decline in Twitter's stock price after he made an offer to buy the company in 2022. Investors sued Musk, alleging he intentionally disparaged Twitter to lower its stock price and secure a better deal. The trial centered on whether Musk intended to move the market with his comments about bots and spam accounts. The jury found Musk responsible for damages, though the exact amount he will pay is yet to be determined. While the jury confirmed two fraud claims, they rejected two others and found that Musk did not engage in a "scheme to defraud Twitter investors." Musk's legal team plans to appeal the verdict.
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