US jury finds Elon Musk misled Twitter shareholders

Based on the latest available information as of March 2026, there has been no final verdict in the Twitter shareholder lawsuit accusing Elon Musk of misleading investors. The case is currently with a federal jury in San Francisco that began deliberations on March 18, 2026, after closing arguments concluded. The lawsuit, filed in October 2022, alleges that Musk violated U.S. securities laws by making false statements about spam accounts on Twitter to drive down the company's stock price during his $44 billion acquisition attempt in 2022. Plaintiffs claim Musk's public statements about bots and fake accounts (estimated at 20% or more of users) intentionally depressed Twitter's stock price, which was reliant on advertising revenue tied to user metrics, allowing him to potentially renegotiate a lower acquisition price. The shareholders who sold stock between May 13 and October 4, 2022, are seeking over $2 billion in damages, claiming Musk's actions caused the stock to drop significantly below his $54.20 per share offer price. Musk testified in his defense on March 4, 2026, arguing that his statements about bots were based on available information at the time and not part of a deliberate scheme to defraud investors. He claimed he felt misled by Twitter's board about the actual number of fake accounts and completed the deal at the original price due to perceived judicial bias in Delaware courts. The jury is currently deliberating whether Musk's actions constituted securities fraud, with no verdict announced as of the latest reports. No coverage from Philippine news sources (GMA, ABS-CBN, Inquirer, Philstar) was found in the search results, with all available information coming from U.S.-based news outlets.

You may also like · #ElonMusk

Indonesia issues new summons for Google, Meta over teen social media banThe era of crime-as-a-service operations has come