Browsing Tag

Shareholders

U.S. Jury Finds Elon Musk Misled Twitter Shareholders

Elon Musk was found by a federal jury in California to have misled Twitter shareholders, a verdict that jurors say caused the social media company's stock to tumble while he was attempting a $44 billion takeover. The decision in the class-action securities suit could expose the billionaire to a multi-billion-dollar judgment: jurors’ damage calculations were reported to be roughly $2.6 billion. Shortly after the verdict, lawyers for Mr. Musk told AFP their client plans to appeal, calling the outcome a "setback." Following a…