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Musk Found Liable for Misleading Investors in Twitter Deal

Friday, March 20, 2026 at 6:50 PM

A jury has determined that Elon Musk is responsible for deliberately misleading investors by manipulating Twitter's stock value before his $44 billion purchase of the platform in 2022. However, the jury cleared him of certain fraud charges in the case.

A San Francisco jury has determined that Elon Musk bears responsibility for intentionally deceiving investors by manipulating Twitter’s share price during the chaotic period before he completed his $44 billion takeover of the social media platform in 2022.

While the jury held Musk accountable for deliberately depressing the company’s stock value in the months preceding the acquisition, they cleared him of certain fraud-related accusations.

The verdict comes after legal proceedings that examined Musk’s actions during the volatile acquisition process that ultimately transformed Twitter into what is now known as X.

Members of Musk’s legal defense team, including attorney Michael Lifrak, were seen leaving the Phillip Burton Federal Building in San Francisco following the jury’s decision.

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