Gate News reports that on March 21, a jury in the United States District Court in San Francisco, California, found Elon Musk liable for misleading investors with two tweets during his 2022 acquisition of Twitter (now rebranded as X). The nine-member jury deliberated for nearly four days before reaching a verdict, determining that the two tweets posted by Musk in May 2022 were misleading to investors. However, the jury dismissed charges that Musk orchestrated fraudulent investor schemes and found that his statements on a podcast did not constitute misrepresentation.
It is reported that Musk announced his $44 billion acquisition of Twitter in April 2022 and declared the deal terminated on July 8. Twitter filed a lawsuit against Musk on July 12, accusing him of refusing to complete the purchase as agreed, causing significant losses to the company. This ruling is a rare loss for Musk, and his legal team has stated they will appeal.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
