US EditionElon Musk defends tweets in lawsuit alleging they caused Twitter stock to fall before acquisition
Musk faces allegations of misleading shareholders to lower Twitter’s stock price before his $44 billion acquisition, a key issue in the ongoing trial.
- On Wednesday, Elon Musk took the stand in a San Francisco federal trial where shareholders accuse him of misleading statements before his 2022 purchase of Twitter for $44 billion.
- Elon Musk's tweets about bots included claims nearly 20% of Twitter accounts were `fake`, causing Twitter's stock to fall nearly 10% on May 13.
- Plaintiffs' lawyer Aaron Arnzen argued Musk waived due diligence and mounted a spectacle to lower the stock, while Musk told jurors `If this was a trial on whether I've made stupid tweets, I'd say I'm guilty`.
- The lawsuit claims Musk violated federal securities laws by making false public statements, with shareholders seeking billions in damages if the jury rules in their favor.
- Beyond this case, Musk is scheduled for an Oakland trial next month and has testified about a Tesla $420-per-share deal years ago, along with disputes involving OpenAI.
54 Articles
54 Articles
The Mercury news
siliconvalley.comElon Musk says judge’s bias forced him to close Twitter buyout
By Jef Feeley and Isaiah Poritz, Bloomberg Elon Musk testified he had to pay full price to buy Twitter Inc. in 2022 because the Delaware judge in the company’s lawsuit to make him consummate the $44 billion deal was “biased” against him. Musk has openly complained before about Delaware Chancery Court’s chief judge, Kathaleen St. J. McCormick. But his testimony at a San Francisco trial revisiting the tumultuous buyout marked the first time the wo…
Bismarck Tribune
News & RecordMusk takes stand in Twitter shareholder trial
SAN FRANCISCO — Elon Musk took the stand in a shareholder trial Wednesday in San Francisco, where he's accused of making false and misleading statements that drove down Twitter's stock price before he bought the social media platform for $44…
Elon Musk takes the stand in Twitter shareholder trial
SAN FRANCISCO — Elon Musk took the stand in a shareholder trial Wednesday in San Francisco, where he's accused of making false and misleading statements that drove down Twitter's stock price before he bought the social media platform for $44…
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