Jury finds Elon Musk liable for misleading Twitter shareholders during takeover

Mar 20, 2026, 10:32:01 PM UTC(1 day ago)

Impact: Medium

Affected Assets

A federal jury in San Francisco determined Elon Musk is liable for misleading investors by driving down Twitter stock prices prior to his 2022 acquisition
Total damages against the billionaire are estimated to reach between 2.1 billion and 2.6 billion dollars according to plaintiff attorneys
The nine person jury reached the verdict after three days of deliberation following a trial that began on March 2 2026
Jurors specifically found Musk liable for two tweets including one claiming the deal was temporarily on hold but absolved him of some broader fraud allegations
Former shareholders were awarded damages ranging from 3 to 8 dollars per share for losses incurred during the period of market volatility

U.S. JURY FINDS ELON MUSK LIABLE TO TWITTER SHAREHOLDERS IN SECURITIES FRAUD LAWSUIT RELATED TO $44 BILLION TAKEOVER, COURT RECORDS SHOW