Elon Musk Faces Trial Over His Tweets
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Musk is on trial for a case filed by Twitter investors in 2022, the year he purchased the social media company for $44 billion.
Elon Musk testified he had to pay full price to buy Twitter Inc. in 2022 because the Delaware judge in the company’s lawsuit to make him consummate the $44 billion deal was “biased” against him.
Billionaire Elon Musk told a jury in California on Wednesday that stock market investors read too much into his social media posts. Musk was defending himself against claims from investors, who have accused him of trying to manipulate markets with a series of misleading messages in the run-up to his 2022 purchase of Twitter.
The courtroom in San Francisco has become the stage for a high-profile corporate showdown, with Elon Musk describing why he ended up paying full price to acquire Twitter Inc. in 2022. Tesla Inc.
Elon Musk will reportedly go to trial for his short-lived stint in 2022 when he seemingly attempted to walk away from his agreement to purchase Twitter. As per investors, the billionaire CEO sought to manipulate stock prices during this takeover saga.