A San Francisco federal judge upheld a March 20, 2026 jury verdict over Musk’s May 2022 “on hold” tweets, preserving a case plaintiffs say could lead to $2.5 billion-$2.6 billion in damages while narrowing broader allegations.
A federal judge in San Francisco refused to overturn a jury verdict finding Elon Musk liable for misleading Twitter investors with two May 2022 tweets, keeping alive a securities fraud case that plaintiffs’ lawyers estimate could result in a $2.5 billion-$2.6 billion award. Judge Charles R. Breyer rejected Musk’s post-trial motions at a June 18 hearing, while the case remains narrower than investors originally alleged after the jury rejected broader conspiracy claims. The dispute centers on Musk’s statements that the $44 billion Twitter deal was “on hold” and needed more verification of bot and spam account disclosures, even though he had already signed a binding April 2022 agreement. Musk’s legal team plans to appeal.