Copied The decision handed down by the jury on Friday in the class-action case Pampena v. Musk found Musk's tweet that said the deal was "temporarily on hold" did harm and was misleading, leading to the company's shares sliding almost 10%, and according to Deadline's reporting, could cost Musk up to $2.6 billion in damages. While they found him liable after 4 days of deliberation, the jury unanimously believed that Musk was not directly involved in the scheme to defraud investors. Anadolu / Elon Musk waffling before eventually acquiring Twitter came back to bite him in the a**. A California jury found Tesla’s chief liable for misleading Twitter shareholders as he sought to acquire Twitter for $44 billion in 2022. The decision handed down by the jury on Friday in the class-action case Pampena v. Musk found Musk’s tweet that said the deal was “temporarily on hold” did harm and was misleading, leading to the company’s shares sliding almost 10%, and according to Deadline’s reporting, could cost Musk up to $2.6 billion in damages. Musk’s initial reasoning for taking his time to finalize the Twitter acquisition was the prevalence of bots, spam, and fake accounts. Shareholders did not buy what Musk was selling and believed he said it to get Twitter to lower the price of its shares. Love Hip-Hop Wired? Get more! Join the Hip-Hop Wired Newsletter Thank you for subscribing! This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Subscribe