Elon Musk Found Liable By Jury For Misleading Twitter Investors In $44 Billion Deal, Faces Potential $2.5 Billion Damages

A federal jury in San Francisco found Elon Musk liable for making misleading statements regarding spam and bot accounts on Twitter, which he acquired for $44 billion in April 2022. The jury determined that Musk's comments led to shareholder losses estimated at up to $2.5 billion, although they did not find evidence of a scheme to defraud. Musk plans to appeal the verdict, asserting that his concerns about bot accounts were genuine. This case adds to Musk's ongoing legal challenges related to his public statements and business dealings.