Elon Musk is expected to take the stand in a shareholder trial Wednesday in San Francisco, where he’s accused of making false and misleading statements that drove down Twitter’s stock price before he bought the social media platform for $44 billion in 2022.
  • CombatWombat@feddit.onlineEnglish
    19·
    8 hours ago

    I mean, he definitely did it. We all remember the breathless coverage of his 2am ketamine tweets to manipulate the market:

    Musk’s May 13 tweet — “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users” — was “false because the buyout was not, in fact, ‘temporarily on hold,’” the lawsuit says. That’s because Twitter did not agree to put the deal on hold, and there was nothing in the merger agreement the two parties signed that allowed Musk to put it on hold, according to the lawsuit.

    I wonder if he has enough clout left with the Trump admin to weasel out of this one, like he did with the Tesla deal.