In brief
In a significant verdict, a federal jury in San Francisco concluded that Elon Musk misled investors during his 2022 Twitter acquisition process. The jury's decision comes after deliberations revealed that Musk's public comments, particularly about Twitter's user metrics and his intentions regarding the $44 billion deal, were intentionally deceptive. Musk had claimed his statements were misinterpreted, but the jury disagreed, siding with investors who argued they relied on his representations.
Elon Musk was misleading in his public statements during a crucial period of his 2022 Twitter takeover, a jury has found.
After two days of deliberations, a jury in San Francisco federal court decided against the tech titan, who was sued by a group of Twitter investors arguing they had relied on his statements.
While testifying in court earlier this month, Musk argued that people had read too much into his public comments and tweets.
The jury instead found his public claims of problems in Twitter's user metrics, and that he was backing out of the $44bn acquisition deal, were intentionally misleading.
