A federal jury in San Francisco determined that Elon Musk intentionally deceived Twitter investors during his 2022 acquisition of the social media company. The jury concluded Musk made false claims about fake accounts to try reducing his $44 billion purchase price.
A federal jury has determined that Elon Musk deliberately deceived Twitter shareholders during his controversial acquisition of the social media company in 2022, according to a Bloomberg News report released Friday.
The San Francisco federal court jury reached its verdict on Friday, determining that Musk purposefully provided false information to Twitter investors by claiming the platform had excessive fake user accounts while attempting to withdraw from his original $44 billion purchase agreement, the report stated.
The jury’s decision centers on Musk’s public statements criticizing Twitter before ultimately completing his acquisition of the company, which he subsequently rebranded as X.
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