Elon Musk misled Twitter investors while trying to get out of acquisition, jury says
At the time, Musk had tweeted that Twitter had too many bots, which is why he was trying to renege on his commitment to buy the company.
A civil jury in California on Friday ruled that Elon Musk intentionally misled Twitter investors when he tried to back out of his $44 billion acquisition of the platform in 2022.
At the time, Musk had tweeted that Twitter had too many bots, which is why he later tried to renege on the acquisition. (Twitter ended up suing Musk to force him to seal the deal.)
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk wrote on the platform that he has since renamed X.
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