A federal jury found Musk liable for materially misleading Twitter investors, with damages potentially topping $2.6 billion. Musk's tweets about spam bots were designed to tank Twitter's stock so he could back out of or renegotiate a deal that had gotten too expensive for him. No amount of wealth or influence puts anyone above securities law, and this verdict makes that crystal clear.
The verdict against Musk was tainted from the start — jurors wrote "$4.20" in bright blue ink on the damages form, mocking Musk's well-known association with the number. San Francisco's deep hostility toward Musk made seating an impartial jury nearly impossible, and even the judge acknowledged a different venue might have produced a different panel.
© 2026 Improve the News Foundation.
All rights reserved.
Version 7.7.2