'If this was a trial about whether I made stupid tweets I would say I'm guilty' says Elon Musk in trial…
A Californian jury found that Elon Musk misled investors with his tweets prior to his $44 billion takeover of Twitter in 2022. While not found to have deliberately defrauded shareholders, two of Musk's tweets were deemed materially false or misleading, impacting the stock price. Musk's attorneys plan to appeal the verdict, which could result in up to $2.6 billion in damages.
- Entities
- Company: CNBC
- Company: BBC
- Topic: Securities Fraud
- Person: Elon Musk
- Topic: Mergers and Acquisitions
- Company: Twitter
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