Jury says Musk misled Twitter investors before 2022 buyout, Bloomberg News reports - Reuters

<a href="https://news.google.com/rss/articles/CBMi4wFBVV95cUxPMHBqSlhfa25XV2ZoUnZLS1N6akVLVW5oNW1NMU1kNzZYNUtPMl9BQWVQeF9ZdzBlYWJVcndCTHhRNzhlQmpubFlZVFBTZGVtWWU4VXMwNkZHTW9HdWZUN2VHdk5HUXB3a25vcFlXXy15aVRtUzNxeWNFQS1WT1laRDJoSkFEVmpBRjUtdDI5ZERLRklNVm9CRDMyUnE1LXZoMFQ4VFFEbVBSQjJ4d0ZLZjdzN0w1Zmp4RjVRcXFIeE5XY1JlSnEwUjdxR0RwNDhQQW9jM1d3WTVacnJpMkpLXy1ibw?oc=5" target="_blank">Jury says Musk misled Twitter investors before 2022 buyout, Bloomberg News reports</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

A San Francisco jury found Elon Musk liable for misleading investors during his 2022 acquisition of Twitter but cleared him of orchestrating a fraud scheme. Shareholders were awarded approximately $2.6 billion in damages.

A civil trial in San Francisco involving Elon Musk and Twitter shareholders has reached the jury phase after closing arguments concluded. Shareholders accuse Musk of misleading investors to drive down Twitter’s stock price as he attempted to withdraw from his $44 billion acquisition of the platform in 2022.

Elon Musk and the U.S. Securities and Exchange Commission (SEC) are in active discussions to settle a lawsuit related to Musk’s $500 million stock acquisition in Twitter ahead of his 2022 takeover. The SEC alleges that Musk failed to disclose that he had acquired over a 5% stake in Twitter within the required 10-day period, delaying disclosure by 11 days.

French prosecutors have informed U.S. authorities about suspicions that Elon Musk may have artificially boosted user numbers on his social media platform, X, to influence its valuation ahead of a planned IPO in June 2026. The cyber section of the Paris prosecutor's office sent reports to the U.S. Securities and Exchange Commission and the Department of Justice after uncovering relevant evidence during an ongoing French investigation.