A jury has ruled that two tweets posted by Tesla CEO Elon Musk in May 2022 contained false statements that led to a decline in the value of Twitter’s stock.
The jury found that these false statements were responsible for the drop in stock price related to the acquisition deal, placing legal responsibility on the author of the tweets according to the jury's decision.
The amount of damages resulting from this decline has not yet been officially determined, but initial estimates suggested approximately $2.6 billion (about €2.2 billion). Legal proceedings will continue to accurately determine the compensation amount.