A Californian jury has found that Elon Musk misled investors before his $44 billion takeover of Twitter in 2022, as reported by the BBC. Musk had testified he did not believe his tweets were misleading, but conceded, "If this was a trial about whether I made stupid tweets, I would say I'm guilty." Sometimes the headlines write themselves.
The jury found that, while Musk did not deliberately set out to defraud shareholders, two of his tweets from 2022 were materially false or misleading, and caused some investors to sell shares at below the eventual $54.20 per share that Musk paid for the social media company. The tweets in question are from May 13th and May 27th, 2022, and read as follows:
