US Jury Finds Musk Liable for Defrauding Twitter Shareholders During 2022 Company Takeover

A federal jury in San Francisco has found Elon Musk liable for securities fraud after concluding that he defrauded Twitter shareholders during his 44 billion dollar acquisition of the social media platform in 2022.The verdict determines that Musk intentionally made misleading public statements and tweets to artificially depress the company stock price, allegedly aiming to renegotiate or abandon the takeover.Investors who sold their holdings during this period filed the lawsuit, arguing that Musk used the bot controversy to pressure the board into a lower purchase price.
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