San Francisco Jury Finds Musk Liable for Misleading Twitter Investors in a 44 Billion Deal

A federal jury in San Francisco found Elon Musk liable for misleading Twitter investors during his 44 billion dollar acquisition in 2022.The panel concluded Musk intentionally misrepresented fake account metrics to depress stock prices before the final purchase agreement.While the jury rejected claims of a wider fraudulent scheme, the verdict could force Musk to pay up to 2.6 billion dollars in damages.Shareholders filed the class action after suffering losses when the CEO paused the deal to renegotiate the platform valuation.
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