A California jury found Elon Musk liable for misleading Twitter investors ahead of his $44 billion acquisition of the company in 2022. Damages could reach $2.6 billion, according to plaintiffs' attorneys.
The jury stopped short of finding a deliberate fraud scheme, but pinned liability on two specific tweets. Musk testified he did not believe his posts would move markets, then added: 'If this was a trial about whether I made stupid tweets, I would say I'm guilty.'
Musk's attorneys are expected to appeal. The original story at The Verge details which two tweets the jury cited and how plaintiffs' attorneys built a case around market impact without proving intent to defraud. That distinction matters for what survives appeal.
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