Judge Upholds Most of Elon Musk Twitter Investor Fraud Verdict as Damages Loom
A federal judge rejected Elon Musk’s bid to overturn most of a jury verdict finding that he defrauded Twitter investors during his 2022 takeover fight, keeping a major legal and financial threat alive.
U.S. District Judge Charles Breyer in San Francisco denied Musk’s attempt to set aside the verdict and also refused to decertify the investor class. The judge granted investors prejudgment interest, while also giving Musk a partial win by finding he was not liable for one challenged May 17 tweet because investors had not shown enough market impact.
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The case centers on Musk’s public statements about Twitter’s bot problem after he agreed to buy the company for $44 billion. Investors argued those statements helped drive down Twitter’s stock price while Musk tried to renegotiate or walk away from the deal.
The ruling means the verdict remains largely intact, with investors estimating damages could reach about $2.6 billion. Musk can still pursue further legal challenges.
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