Elon Musk misled Twitter investors while trying to get out of acquisition, jury says

A California civil jury ruled that Elon Musk intentionally misled Twitter investors when he tried to back out of his $44 billion acquisition of the platform in 2022. Musk had tweeted concerns about bots on Twitter, causing shares to drop 8%, and investors who sold during that window filed suit. The jury sided with plaintiffs, with potential damages up to $2.6 billion. This follows a similar but unsuccessful lawsuit over Musk's 2018 'funding secured' Tesla tweet. Musk has since rebranded Twitter as X, merged it with xAI, and then merged xAI with SpaceX.