"A jury in California determined that Elon Musk had misled investors in Twitter via public statements that depressed the price of the company's stock ahead of his ultimately successful purchase of it."
"Musk made a number of comments on the platform itself and while appearing as a guest on a podcast that raised questions about whether the sale would go through, largely focused on the prevalence of bot accounts on the platform."
"The jury rejected the arguments about the larger scheme, but found Musk liable for the tweets."
"Lawyers for the plaintiffs are reportedly saying that they could ultimately reach as high as $2.6 billion."
A California jury found Elon Musk liable for misleading investors regarding Twitter, which led to a drop in the company's stock price before his purchase. Musk's public statements raised concerns about the sale's viability, particularly regarding bot accounts. Investors filed a class action lawsuit claiming intentional fraud. While the jury dismissed claims of a larger scheme, they held Musk accountable for his tweets. Damages could total up to $2.6 billion, according to the plaintiffs' lawyers.
Read at Ars Technica
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