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Elon Musk Testifies in Twitter Shareholder Trial Over Alleged Stock Manipulation

19 0
06.03.2026

Elon Musk took the stand Wednesday in a federal court in San Francisco, defending himself against claims that he manipulated Twitter's stock to lower its price before buying the company for $44 billion in 2022.

The class-action lawsuit, filed in October 2022, was brought on behalf of Twitter shareholders who sold stock between May 13 and October 4, 2022, weeks before Musk finalized the purchase.

Plaintiffs allege that Musk made false and misleading public statements to intentionally drive down Twitter's share price, violating federal securities laws.

Musk, Tesla's CEO, had agreed to take Twitter private in April 2022. On May 13, he tweeted that the deal........

© International Business Times