MASSIVE: Elon Musk found LIABLE for misleading Twitter investors in his $44B takeover. This will cost him BILLIONS.
A San Francisco civil jury just delivered a massive hit to Elon Musk, finding the billionaire liable for misleading investors during his takeover of Twitter, which he now calls X. He’ll now own thousands of people, through a class action lawsuit.
Jurors concluded Musk knowingly drove down the company’s stock with reckless public statements, including his false claim the deal was “temporarily on hold.”
That single message sent shockwaves through the market. Investors panicked. Prices dropped. People sold based on uncertainty Musk himself created. The jury made it clear those statements were misleading and caused real financial harm.
The consequences are enormous. Damages could reach billions, with estimates ranging from $3 to $8 per share, per day, for affected investors. This impacts not just individuals, but major institutional players.
Musk insisted his concerns about bots were legitimate. That argument failed to protect him from accountability here.
Elon just learned the hard way — all the money in the world couldn’t save him.
Not only will he lose billions, but he’ll forever be on the record as a fraud.