Overview
- After a three-week trial in San Francisco, a nine-person jury concluded two May 2022 tweets by Elon Musk misled investors and drove down Twitter’s share price.
- Jurors cleared Musk of a broader fraud scheme and found no liability for separate remarks made in a podcast or conference setting.
- The panel set per‑share, per‑day damages of about $3 to $8; plaintiffs say the total could reach the low billions, with the final sum to be determined in post‑verdict proceedings.
- The class action covers investors who sold Twitter shares between May 13 and October 4, 2022, during Musk’s public dispute over the platform’s bot counts.
- Musk’s legal team called the verdict a setback and said they will appeal, leaving timing and recovery for shareholders unresolved.