this post was submitted on 21 Mar 2026
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388
Elon Musk to Owe Estimated $2.1 Billion After Jury Finds He Misled Twitter Investors Before 2022 Buyout (text.npr.org)
submitted 21 hours ago* (last edited 21 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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[–] mechoman444@lemmy.world 27 points 10 hours ago* (last edited 7 hours ago) (2 children)

I don't understand why these courts charge a set fine for stuff like this. This is clearly an extremely unique case. The man is 20% shy of being a trillionaire.

What really needs to be done is they need to charge a percentage of his profits. Say 20 to 30%.

[–] Quill7513@slrpnk.net 2 points 2 hours ago

Antonin Scalea capped punative damages

[–] frongt@lemmy.zip 0 points 8 hours ago (2 children)

Because that's the law.

[–] monkeyslikebananas2@lemmy.world 10 points 8 hours ago

… and the billionaires draft the laws.