{"id":536580,"date":"2026-03-21T11:09:09","date_gmt":"2026-03-21T11:09:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/536580\/"},"modified":"2026-03-21T11:09:09","modified_gmt":"2026-03-21T11:09:09","slug":"jury-finds-elon-musks-stupid-tweets-caused-twitter-investors-losses","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/536580\/","title":{"rendered":"Jury finds Elon Musk\u2019s \u2018stupid tweets\u2019 caused Twitter investors\u2019 losses"},"content":{"rendered":"<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">A California jury determined that Elon Musk misled Twitter investors before making a $44 billion deal to buy the company in 2022, <a href=\"https:\/\/www.cnbc.com\/2026\/03\/20\/elon-musk-determined-to-be-liable-for-misleading-twitter-investors.html\" rel=\"nofollow noopener\" target=\"_blank\">reports CNBC<\/a>. The New York Times <a href=\"https:\/\/www.nytimes.com\/2026\/03\/20\/technology\/elon-musk-twitter-shareholders-verdict.html?smid=nytcore-ios-share\" rel=\"nofollow noopener\" target=\"_blank\">reports that<\/a> Musk had testified this month that he didn\u2019t believe his posts would spook markets, but he did say that \u201cIf this was a trial about whether I made stupid tweets, I would say I\u2019m guilty.\u201d<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">CNBC reports Musk\u2019s attorneys are expected to file an appeal, as damages could reach as high as $2.6 billion, according to attorneys representing the plaintiffs.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph _1ymtmqpi _17nnmdy1 _17nnmdy0 _1xwtict1\">While finding that Musk did not engage in a specific scheme to defraud shareholders, the jury cited two of Musk\u2019s tweets, from May 13th and May 27th, 2022, as materially false or misleading, causing some investors to sell shares in Twitter at values below the $54.20 per share bid.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup ewrhy38 _1xwtict1\">Twitter deal temporarily on hold pending details supporting calculation that spam\/fake accounts do indeed represent less than 5% of users<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup ewrhy38 _1xwtict1\">20% fake\/spam accounts, while 4 times what Twitter claims, could be *much* higher.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup ewrhy38 _1xwtict1\">My offer was based on Twitter\u2019s SEC filings being accurate.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup ewrhy38 _1xwtict1\">Yesterday, Twitter\u2019s CEO publicly refused to show proof of &lt;5%.<\/p>\n<p class=\"duet--article--dangerously-set-cms-markup ewrhy38 _1xwtict1\">This deal cannot move forward until he does.<\/p>\n","protected":false},"excerpt":{"rendered":"A California jury determined that Elon Musk misled Twitter investors before making a $44 billion deal to buy&hellip;\n","protected":false},"author":2,"featured_media":536581,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,11,3,172,8282],"class_list":["post-536580","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-elon-musk","tag-news","tag-tech","tag-twitter-x"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/536580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=536580"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/536580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/536581"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=536580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=536580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=536580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}