A group of former Twitter investors have prevailed at a federal civil trial over Elon Musk’s actions amid his $44 billion acquisition of the social platform in 2022. A jury in San Francisco found Friday that tweets made by Musk about fake accounts on the platform had defrauded investors in the company. The jury sided with Musk on other allegations in the case.
It’s not yet clear how much Musk will owe in damages as a result of the case but, as the Associated Press reports, it could amount to billions of dollars. Jurors calculated that shareholders should get “between about $3 and $8 per stock per day.”
The class action
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