Jury agrees that Musk’s tweets during Twitter takeover misled investors

A jury in California concluded on Friday that Elon Musk misled investors regarding Twitter through public statements that negatively impacted the company's stock value prior to his successful acquisition. This ruling stems from a class action lawsuit, potentially placing Musk on the hook for damages amounting to billions of dollars. Leading up to Musk's purchase of the social media platform, he made several remarks both on Twitter and during podcast appearances, questioning the likelihood of the sale's completion. His comments primarily focused on the issue of bot accounts on the platform, which caused significant concern among investors, leading some to sell their shares at reduced prices during this tumultuous period. In response, a group of affected investors initiated a class action lawsuit, alleging that Musk's statements were intended to deceive them as part of a broader scheme. While the jury dismissed the claims regarding this larger scheme, they found Musk liable for his misleading tweets. Although the exact damages have yet to be finalized, plaintiff attorneys have indicated that they could soar to as high as $2.6 billion.