"The jury found that Musk deliberately tried to drive down Twitter's stock price in the months leading up to his acquisition, impacting shareholder decisions."
"Musk's public statements about the prevalence of bots on Twitter raised significant concerns, leading to a class-action lawsuit from shareholders who felt misled."
A federal jury found Elon Musk liable for misleading Twitter shareholders by attempting to lower the stock price before his $44 billion acquisition. Musk's public statements raised concerns about the number of fake accounts on Twitter, leading to a class-action lawsuit from shareholders. Although the jury ruled against him on some fraud allegations, they determined he did not intentionally scheme to mislead investors. Musk completed the acquisition in October 2022 and renamed Twitter to X.
Read at www.dw.com
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