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356

Elon Musk to Owe Estimated $2.1 Billion After Jury Finds He Misled Twitter Investors Before 2022 Buyout (text.npr.org)

submitted 19 hours ago* (last edited 18 hours ago) by Beep@lemmus.org to c/technology@lemmy.world

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A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not "scheme" to mislead investors.

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[–] yakko@feddit.uk 2 points 13 hours ago (1 children)

Why would any such fines be capped, unless the entire point is to effectively legalise crime for the ultra rich?

[–] Tanoh@lemmy.world 2 points 12 hours ago (1 children)

You sound surprised?

[–] yakko@feddit.uk 1 points 12 hours ago

More chagrined than anything else. Having dual citizenship with US and UK is like having one foot in the grave and another foot in the toilet sometimes.