Overview
- Jurors in San Francisco found that two May 2022 tweets by Elon Musk were false or misleading and contributed to a drop in Twitter’s share price.
- The verdict came after roughly three weeks of civil proceedings that included in-person testimony from Musk.
- The court will set monetary damages in a later phase, and plaintiffs’ lawyers say total recovery could reach about $2.6 billion.
- Musk plans to appeal the decision, according to his attorneys.
- Accounts of the verdict differ on whether jurors rejected an alleged deliberate scheme to drive the price down, but all reports agree the statements were deceptive.