US Federal Judge Finds Elon Musk Liable Over Claims Of Defrauding Twitter Shareholders: Estimated Damages Predicted To Be Up To $2.5 Billion
According to Dawn News, the verdict from a San Francisco federal court found Elon Musk to be liable for defrauding Twitter shareholders. He was accused of falsely claiming how many bot accounts were present on Twitter which lead to the accusation that he was intentionally driving down the company’s stock price in order to negotiate or back out of the $44 Billion takeover in 2022.
Francis Bottini who is a lawyer representing the shareholders stated that estimated damages could total up to $2.5 Billion yet remain undecided for now.
Mr Musk’s lawyers however, insist that this is just “a bump in the road” and that they will look forward to “vindication on appeal”. This massive court standoff comes as a civil trial that began on March 2 2026.
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