Twitter

• A federal jury ruled Elon Musk liable for defrauding Twitter shareholders by intentionally driving down the stock price to renegotiate or exit the $44 billion takeover deal in 2022. • The verdict was reported by Reuters and Bloomberg News on Friday, with damages to be determined in a later phase of the trial. • This ruling holds significant implications for corporate takeover accountability, potentially affecting future high-profile mergers involving public companies.

California jurors hand win to investors who sued billionaire saying he publicly disparaged social media platform in 2022A California jury has ruled that Elon Musk is responsible for Twitter investors’ stock plummeting when he sought to buy the social media platform for $44bn in 2022. Jurors handed the win to a group of investors who sued the billionaire saying he publicly disparaged the company with the aim of bringing down Twitter’s stock price to get a better bargain.The trial, which began earlier this month in federal court in San Francisco, focused on whether Musk intended to move the market with his comments. During a six-month period in 2022, after his offer to buy Twitter, he posted constantly to his millions of followers that the social network was rife with bots that produced spam and created fake accounts. Continue reading...