this post was submitted on 20 Mar 2026
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Elon Musk found liable for misleading investors during purchase of Twitter (www.independent.co.uk)
submitted 20 hours ago by dude@lemmings.world to c/news@lemmings.world
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[–] TwinTitans@lemmy.world 31 points 20 hours ago (1 children)

Probably a 5000$ fine.

[–] Unleaded8163@fedia.io 21 points 20 hours ago (1 children)

He's going to have to pay damages, reimbursing investors for the loss caused by his BS.

Because it is a class action case, it is not clear what amount in damages Musk will have to pay to thousands of shareholders, many of them institutional investors, but it is likely in the billions. The jury awarded shareholders between about $3 and $8 per stock per day.

[–] akilou@sh.itjust.works 4 points 18 hours ago (1 children)

What is "per stock per day"? Per share per day? And for how many days?

[–] knightly@pawb.social 4 points 18 hours ago

Yeah. The terms are used interchangably.

As for the number of days, that depends on when each of the investors who filed the suit bought their shares. IIRC it was a couple of months between those tweets and when the deal was finally completed, so he might end up paying out a few hundred bucks per share for the earliest buyers.