Musk Found Liable for Misleading Twitter Investors

0:00Dallas Store is making news on March 21st. A jury in San Francisco just ruled that Elon Musk misled investors and drove down Twitter stock price before his $44 billion buyout in 2022. They held him liable in a civil case but cleared him of broader fraud claims, saying he did not scheme to deceive shareholders. The class action lawsuit zeroed in on two tweets and a podcast comment Musk made back in May 2022. Musk's claim those statements tricked him into selling shares at lower prices as Musk prepared to take over the company, which he later renamed, Enza. This verdict comes after a tense acquisition battle. Musk first agreed to the deal, then tried to back out, prompting Twitter to sue him in Delaware to enforce the purchase. He switched gears again right before that trial and closed the deal as promised. Jurors took three days to deliver a following nearly three weeks of testimony that started on March 2nd. They pin liability on the two tweets, like one where Musk said the deal was temporarily

1:02on hold, but not the podcast remarks or any intentional plot. While X is not commented yet, this outcome could lead to damages for affected shareholders and marks a key moment in the ongoing fallout from that. Blockbuster TakeOver