"Jurors calculated how much Musk's statements brought down Twitter's stock price for every trading day over the time period in question, leading to their verdict against him."
"Musk testified that he didn't realize his attacks on the company would lower the company's stock price or hurt its investors, but the jury disagreed."
"The jury's nuanced view indicates that these cases are incredibly fact-specific, reflecting the complexity of Musk's public statements and their impact on stock prices."
A California jury ruled that Elon Musk is liable for the decline in Twitter's stock price during his 2022 acquisition attempt. Investors claimed Musk's disparaging comments aimed to lower the stock price for a better deal. The trial examined Musk's intent behind his statements about bots and spam on the platform. The jury found two fraud claims valid, while two were rejected. The total amount Musk may owe investors is yet to be determined, with his net worth currently at $661 billion.
Read at www.theguardian.com
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