A federal jury in California has found that tech tycoon Elon Musk misled Twitter shareholders, driving down the company's share price as he was poised to buy it in a $44 billion deal.

Musk was absolved of some fraud allegations by the jury.

A federal jury in California found Friday that tech titan Elon Musk misled Twitter shareholders in an effort to drive down the company's share price as he was poised to buy it in a $44 billion deal.

Elon Musk artificially drove down the price of Twitter's stock in 2022 with tweets claiming the social-media company had underreported how many fake and spam accounts were on its platform, a federal jury found.

A jury has found Elon Musk liable for defrauding investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not “scheme” to…

A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not “scheme” to mislead investors.

A California jury says Elon Musk misled Twitter investors ahead of acquiring the social media platform.