this post was submitted on 04 Mar 2026
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Elon Musk is expected to take the stand in a shareholder trial on Wednesday in San Francisco, where he’s accused of making false and misleading statements that drove down Twitter’s stock price before he bought the social media platform for $44 billion in 2022.

The lawsuit was filed in October 2022 in the U.S. District Court for the Northern District of California on behalf of Twitter shareholders who sold the stock between May 13 and Oct. 4, 2022, a few weeks before Musk’s purchase of Twitter was finalized. It claims Musk violated federal securities laws by making false, public statements that “were carefully calculated to drive down the price of Twitter stock.”

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[–] 0_o7@lemmy.dbzer0.com 1 points 7 hours ago

USA is just running a "Kingdom of Billionaires" reality show...

They're not going to face any real consequences whatsoever. They just want you think think they will just like a very predictable TV show.

[–] NocturnalMorning@lemmy.world 10 points 13 hours ago* (last edited 12 hours ago) (1 children)

Steal all Americans sensitive data using DOGE, no big deal. Manipulate the stock market and get caught, that's a paddlin...

Man we are so fucked as a species.

[–] electrotabby@piefed.social 5 points 12 hours ago

First is a crime against the common folk. Second is a crime against other rich people. There's a difference!

[–] entropiclyclaude@lemmy.wtf 34 points 18 hours ago (1 children)

A bullet would be faster and cheaper way of dealing with Elon.

[–] danc4498@lemmy.world 10 points 17 hours ago (2 children)

Unfortunately, you can’t kill cancer with a bullet.

[–] PapaStevesy@lemmy.world 11 points 17 hours ago (1 children)

You can't cure cancer with a bullet, but you can definitely kill it with one.

[–] DarrinBrunner@lemmy.world 3 points 17 hours ago (1 children)
[–] idiomaddict@lemmy.world 5 points 16 hours ago

This kills the cancer. Not as quickly as it kills the host, but still pretty soon.

[–] jtrek@startrek.website 3 points 14 hours ago (1 children)
[–] danc4498@lemmy.world 1 points 11 hours ago

There’s always an XKCD reference.

[–] CombatWombat@feddit.online 17 points 17 hours ago (1 children)

I mean, he definitely did it. We all remember the breathless coverage of his 2am ketamine tweets to manipulate the market:

Musk’s May 13 tweet — “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users” — was “false because the buyout was not, in fact, ‘temporarily on hold,’” the lawsuit says. That’s because Twitter did not agree to put the deal on hold, and there was nothing in the merger agreement the two parties signed that allowed Musk to put it on hold, according to the lawsuit.

I wonder if he has enough clout left with the Trump admin to weasel out of this one, like he did with the Tesla deal.

[–] some_designer_dude@lemmy.world 3 points 16 hours ago

Clout? You mean money? He’s got plenty so he will be just fine with the Trump admin.

[–] comrade_twisty@feddit.org 17 points 18 hours ago (3 children)

He paid off the president and controls all the data he stole from social security admin etc.

Nothing is gonna happen to him.

[–] pennomi@lemmy.world 7 points 18 hours ago (1 children)

While that’s true, it seems as if Trump and Musk aren’t in the best terms after actually working together for a month or two.

[–] TomMasz@lemmy.world 5 points 17 hours ago

Trump doesn't really have friends anyway, so as long as they are ideologically compatible, Musk is safe.

[–] DarrinBrunner@lemmy.world 3 points 17 hours ago

Trump doesn't give one flying fuck what Elon does, as long as it doesn't affect Trump, personally. This has nothing to do with Trump, be beyond that, Trump probably made a killing on the deal.

[–] RestrictedAccount@lemmy.world 1 points 15 hours ago (1 children)

Those Social Security data are worthless as a bargaining chip because he would instantly go to jail if he disclosed that he actually had them.

(Don’t mess with the Boomers)

[–] minorkeys@lemmy.world 1 points 14 hours ago* (last edited 14 hours ago) (1 children)

And if you can't think of a way it can be used, as if laws still matter to the wealthy, obviously, nobody else can....

[–] RestrictedAccount@lemmy.world 1 points 12 hours ago

I agree that those data are valuable, but just not forcing someone to do something in a public spat.

[–] TankovayaDiviziya@lemmy.world 8 points 16 hours ago* (last edited 15 hours ago) (1 children)

I'm convinced that some people who look up to the rich despite being dicks, secretly admire these rich individuals' underhanded way on how to get rich.

[–] Bullerfar@lemmy.world 7 points 15 hours ago

It's not about money, it's about power.

[–] utopiah@lemmy.world 10 points 17 hours ago

To be fair he deflated the stock also after purchase.

[–] SnotFlickerman@lemmy.blahaj.zone 10 points 18 hours ago* (last edited 18 hours ago) (1 children)

Ah yes all his horseshit about the bot problem and how he needed concrete numbers to solve the problem or "die trying."

Since he still hasn't even begun to solve it I really hope he just fucking dies... Trying? Yeah let's go with that.

[–] crazycraw@crazypeople.online 1 points 18 hours ago

Paging a Mr. Trying.
you are being paged.

[–] ColeSloth@discuss.tchncs.de 2 points 15 hours ago

I don't have the most fantastic memory, but as I recall the stock went up very high after he said he was going to buy it the first time, and stayed higher than it was before he said anything by quite a bit up through his purchase.

[–] resipsaloquitur@lemmy.world 1 points 13 hours ago

UHH, I SPEND A LOT OF TIME COURT. I’M BASICALLY A LAWYER. I DESERVE AN HONORARY JD BY NOW. THOUGH PROBABLY NOT, SINCE WE WONT BE ALLOWING LAWYERS ON ~~MARS~~ THE MOON.