Elon Musk Found Liable for Misleading Twitter Shareholders With Tweet During $44 Billion Acquisition

Elon Musk was found liable for intentionally misleading Twitter shareholders during his $44 billion acquisition of the social media platform in 2022, when Musk tweeted the deal was "temporarily on hold," according to multiple media reports. A California civil jury in the Pampena v. Musk case found the tweet caused Twitter's overall value to drop by nearly 10% and stocks to plummet by as much as 20%. Musk could be responsible for up to $2.6 billion in damages. At the time, Musk insisted his concern was about the number of bots and fake accounts that appeared on the platform. Former . . .