NEWS SUMMARY
A San Francisco jury found Elon Musk liable for misleading investors with his tweets during his 2022 acquisition of Twitter. In the tweets, Musk expressed his concerns about the actual number of bot accounts on the platform and stated that the deal was ‘temporarily on hold’. Shareholders who sold their stock after the tweets were posted sued Musk and are now entitled to damages, estimated at about $2.6 billion. At the same time, Musk was cleared of scheming to mislead investors.
Source: Associated Press
