Elon Musk Misled Twitter Investors While Trying To Get Out Of Acquisition, Jury Says
A jury ruled Elon Musk intentionally misled Twitter investors in 2022. Here is what happened, what it means, and what comes next.
Matilda
Elon Musk Misled Twitter Investors While Trying To Get Out Of Acquisition, Jury Says
A California jury has ruled that Elon Musk deliberately misled Twitter investors during his chaotic attempt to back out of his $44 billion acquisition deal in 2022. The verdict, delivered on Friday March 20, 2026, marks one of the most consequential legal outcomes tied to a billionaire's social media activity in recent memory. Damages in the case could reach as high as $2.6 billion. What the Jury Decided and Why It Matters The civil jury found that Musk acted with intent when he posted a tweet on May 13, 2022, suggesting he was putting the Twitter acquisition "temporarily on hold." His stated reason was concern that spam and fake accounts made up more than 5 percent of Twitter's user base, a threshold that mattered under the terms of his deal. But the jury did not buy the explanation. Jurors sided with the plaintiff's argument that Musk's tweet was not a good-faith expression of concern. Instead, they concluded it was a calculated move designed to create uncerta…
