A San Francisco jury found on Friday that Elon Musk defrauded Twitter investors in 2022 by disparaging the company in an attempt to purchase the social media platform for less than his initial $44 billion bid.
Jurors concluded that Musk had purposefully misled Twitter shareholders when he stated that Twitter had too many fake accounts and attempted to back out of the transaction.
The case, which represents Twitter stockholders who sold their shares between May 13 and October 4, 2022, centers on claims that Musk broke federal securities laws by deliberately lowering the company's stock price in an effort to either blow up the deal or wrangle a lower sales price.
https://breakingthenews.net/Article/Jury-finds-Musk-defrauded-investors-amid-Twitter-buyout/65920441
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