Jury Finds Elon Musk Made Misleading Statements in Twitter Deal Case

• The jury finds Musk’s tweets misleading, impacting Twitter stock and investor decisions.
• Court rejects fraud scheme claim despite acknowledging shareholder harm.
• Claims process may take months before investors begin recovering losses.

A California jury has ruled that Elon Musk made materially false and misleading statements during the lead-up to his $44 billion acquisition of Twitter, concluding a lawsuit tied to the 2022 takeover.

While the jury found that Musk’s public remarks affected shareholders and contributed to financial losses, it stopped short of concluding that he engaged in a deliberate scheme to defraud investors.

Misleading Statements Linked to Share Price Decline

The case, Pampena v. Musk, was filed shortly after Musk completed the Twitter acquisition at $54.20 per share in October 2022. Central to the lawsuit were Musk’s public comments …

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