Jury finds Musk owes damages to Twitter investors for his tweets
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California jury found Elon Musk liable for misleading Twitter investors through public statements before his acquisition.
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A California jury on Friday found Elon Musk liable for misleading Twitter investors through public statements and podcast comments that depressed the company's stock price before his acquisition. Musk's remarks—primarily focused on bot accounts on the platform—raised doubts about whether the deal would proceed, causing investors to sell shares at reduced prices during the period. The class action lawsuit means Musk faces potentially billions in damages payable to a broad range of affected investors. The jury rejected claims that Musk's conduct was part of a larger intentional scheme but held him liable for the tweets themselves.
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