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345

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

submitted 17 hours ago* (last edited 17 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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[–] GreenBeanMachine@lemmy.world 11 points 8 hours ago (2 children)

Lose change amount

[–] wewbull@feddit.uk 1 points 4 hours ago

I don't know how much he has liquid. The article says that "most" of his 814B is tied up in Tesla stock. Selling a couple of billion worth of stock isn't trivial.

[–] Etterra@discuss.online 11 points 8 hours ago (1 children)

That's assuming they can even get him to pay it.

[–] TronBronson@lemmy.world 2 points 5 hours ago

Ya for about 10% of that cost the lawyers will keep working hard to contest.