According to CNBC, a US court found Elon Musk guilty of misleading investors in the $44 billion Twitter acquisition case.
This case involved events in 2022, when Musk influenced the company's stock price through his tweets and statements. Specifically, he claimed that the transaction was "temporarily suspended" due to concerns about the number of fake accounts. As a result, Twitter's stock dropped nearly 10% in one day.
Investors accused Musk of attempting to lower the company's valuation to renegotiate the deal terms or exit the transaction. Many investors sold their shares at a lower price due to his statements.
The court ruled that his posts were false and misleading. However, the jury did not find evidence that Musk had a premeditated scheme to defraud.
The total compensation could reach as high as $2.6 billion. Musk's defense team has stated that they plan to appeal the verdict.
Original article: toutiao.com/article/1860275470206080/
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