Elon Musk Found Liable in Twitter Lawsuit

0:00It's March 23rd, music news today starts now. AI powered and always on beat. A California jury just ruled Elon Musk liable in a class action lawsuit tied to his 2022 Twitter takeover. The case centered on a tweet where Musk announced the $44 billion deal was temporarily on hold, which shareholders claimed misled the market. Musk had raised concerns about bots and fake accounts on the platform, slowing things down. The investors argued he used that as leverage to push the stock price lower before closing the purchase. The verdict came after four days of deliberation and caused Twitter shares to drop nearly 10% right away. Damages could hit Musk for up to $2.6 billion. While finding him responsible for the misleading statement, the jury unanimously cleared Musk of any direct role in defrauding investors. Plaint has hailed it as a victory for everyday shareholders, but Musk's lawyers dismissed it as a small hurdle on the path to appeal.

1:00This saga shows no signs of wrapping up anytime soon.