A group of former Twitter investors have prevailed at a federal civil trial over Elon Musk’s actions amid his $44 billion acquisition of the social platform in 2022. The jury found that Musk’s tweets about fake accounts on the platform had defrauded investors. The lawsuit cited Musk’s tweets after announcing he would buy Twitter, alleging they were meant to drive down the share price. Musk faced other lawsuits related to his delay in disclosing his stake in the company and unpaid severance benefits for former executives. He narrowly avoided a trial over attempts to back out of the deal.
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