SAN FRANCISCO, United States — 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. Giuseppe Pampena filed the suit against Musk on behalf of people who sold Twitter shares between mid-May of 2022 and early October of that year. The civil complaint accused Musk of driving down Twitter's stock price to gain leverage to renegotiate the purchase price or get out of the deal completely, causing people who sold shares to lose money. Musk abandoned his effort to get out of buying Twitter in late 2022 after the company took him to court to uphold the contract. Musk has since merged the social media platform -- now called X -- with his artificial intelligence startup xAI and his private space exploration firm SpaceX.

Source: Philippine Star March 21, 2026 05:38 UTC