Jurors in San Francisco found that American entrepreneur Elon Musk misled Twitter (now — X) investors during negotiations to buy the company in 2022. This is reported by Financial Times (FT).

The publication recalls that after announcing the purchase of Twitter for $44 billion, Musk began posting on social media that the deal was "on hold" pending verification of the share of fake accounts (he doubted there were less than 5%). These statements caused the company's stock to fall — investors feared the deal would fall through.

A group of shareholders filed a class action lawsuit, claiming they suffered losses by selling shares at a lower price after Musk's posts. Jurors agreed that the entrepreneur's statements were misleading and affected the market, so now investors are entitled to compensation (the amount will be determined later).

However, the court did not find that Musk acted as part of a fraudulent scheme — jurors only agreed that his statements were incorrect.

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