A jury on Friday found that Elon Musk misled Twitter’s shareholders in an attempt to lower the price of the social media platform prior to his purchase.
The jury found that he made two misleading statements in the run-up to his acquisition of the social media site. They rejected two other fraud claims.
Musk’s complaints about bots on Twitter prior to his 2022 acquisition were intended to lower the company’s value and score a better deal on his $44 billion takeover, the jury in San Francisco found.
X, Elon Musk, his attorney, and an attorney representing plaintiffs did not immediately respond to requests for comment.
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