A San Francisco jury found Elon Musk defrauded Twitter investors during his $44 billion 2022 takeover, determining that key tweets about spam and bot accounts were materially false or misleading and contributed to investor losses. The case centered on claims that Musk made these statements to drive down Twitter’s stock price and improve his negotiating position, though the jury did not find him liable for all statements or broader scheme claims.
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First sent on March 21 by States ask for townhalls