After being ruled to have misled Twitter investors before the 2022 acquisition, Musk is to pay over $2 billion
Wallstreetcn·
- A San Francisco jury has ruled that Elon Musk deliberately deflated Twitter's stock price before his 2022 acquisition attempt, ordering him to pay damages to shareholders.
- The jury found Musk's claims about fake accounts, made through tweets, were fraudulent actions that led Twitter's stock to plummet, causing substantial losses for investors.
- Musk plans to appeal the decision, maintaining that his statements arose from genuine concerns about fake accounts rather than an intent to manipulate the market.