Overview
- Testifying for a second day, Musk told jurors he did not intend to move Twitter’s stock and said he was simply speaking his mind as markets reacted unpredictably.
- He reiterated that Twitter understated fake accounts, insisting the bot share far exceeded the 5% the company reported in SEC filings.
- Plaintiffs focus on Musk’s May 13, 2022 post declaring the deal “temporarily on hold,” arguing the contract gave him no such authority and that shares later traded about 32% below the $54.20 offer.
- Evidence shown includes Barclays emails discussing a chance to revisit price and a timeline of statements like “cannot go forward,” which investors say prompted sales at losses.
- The trial is ongoing in San Francisco through March 19, and the judge is weighing whether Musk’s remarks about a Delaware judge could narrow attorney‑client privilege protections.