A California jury largely sided with X shareholders over Elon Musk’s 2022 Twitter acquisition statements, estimated damages at about $2.5 billion, and did not find him part of a broader investor fraud conspiracy.
A California jury largely backed X shareholders over Elon Musk’s statements made before the 2022 $44 billion Twitter acquisition, with damages estimated at about $2.5 billion. The jury did not find Musk part of a broader investor fraud conspiracy. Existing reporting on the case states the verdict found at least one May 2022 tweet misleading, while earlier information indicated two tweets were found misleading, leaving that point unresolved in the available source material. Musk plans to appeal, according to his lawyer.