Musk misled Twitter investors
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At the time, Musk had tweeted that Twitter had too many bots, which is why he was trying to renege on his commitment to buy the company.
A group of former Twitter investors have prevailed at a federal civil trial over Elon Musk's actions amid his $44 billion acquisition of the social platform in 2022. A jury in San Francisco found Friday that tweets made by Musk about fake accounts on the platform had defrauded investors in the company.
A California jury found Elon Musk misled Twitter investors ahead of his $44 billion acquisition, ruling on claims tied to fake bot account disputes.
A federal jury finds Elon Musk liable for misleading Twitter investors during his $44 billion acquisition, with potential damages up to $2.5 billion.
A verdict has been reached in a trial that put Elon Musk against Twitter shareholders, a court spokesperson said, adding the decision was being read Friday afternoon. The civil trial in San Francisco centered on a class-action lawsuit filed just before Musk took control of Twitter,
On Tuesday, A lawyer for former Twitter investors told a San Francisco federal jury that Elon Musk deliberately undermined the company in 2022 by publicly casting doubt on the number of fake accounts on the platform.