Elon Musk has been found liable for misleading investors during his $44 billion acquisition of Twitt

Musk Found Liable for Misleading Twitter Investors—But Cleared of Fraud Scheme

A rare courtroom setback for Elon Musk. A U.S. jury ruled that Musk intentionally depressed Twitter's stock price and misled investors during the 2022 acquisition saga, holding him liable. But the jury stopped short of finding fraud—dismissing the claim that Musk schemed to deceive shareholders.

The case focused on two May 2022 tweets and comments from a podcast. After four days of deliberation, the nine-member panel said Musk was liable for misleading investors via the tweets, but cleared him on the podcast remarks and on any intentional fraud plot.

Musk's legal team plans to appeal. The dispute dates back to April 2022, when Musk announced a $44 billion bid for Twitter, then tried to walk away in July. Twitter sued, and the fallout has now landed this mixed verdict. (Reuters)