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Jury Finds Musk Misled Twitter Investors
A jury in San Francisco, United States, found Elon Musk misled Twitter investors. This happened in 2022, when Musk bought Twitter for $44 billion.
He later renamed the company X. Investors said Musk tried to push down Twitter's share price. They said he did this to change his $44 billion offer.
Musk posted misleading tweets during the takeover. The jury cleared him of some fraud claims.
Klear Note — Musk agreed to buy Twitter for $44 billion in 2022. He later tried to back out of the deal. Investors sued, saying he posted false tweets to lower the stock price.
Key Terms 4
- investors
- People who buy shares in a company to make money
- share price
- The cost of one small piece of ownership in a company
- takeover
- When someone buys and takes control of a company
- fraud
- Lying or cheating to gain money or advantage