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Elon Musk Found Liable for $2.5B Twitter Fraud

3/21/2026

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Summary

Story summary

A U.S. federal jury found Elon Musk liable for defrauding Twitter shareholders by lowering the stock price during his $44 billion takeover on March 20, 2026.
Jurors rejected Musk's claim that Twitter underreported fake accounts.
Damages could reach $2.5 billion for investors who sold during May and October 2022.
Musk's lawyers plan to appeal.
He is negotiating a separate Securities and Exchange Commission (SEC) settlement over his Twitter purchases.

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Story summary

A U.S. federal jury found Elon Musk liable for defrauding Twitter shareholders by lowering the stock price during his $44 billion takeover on March 20, 2026.
Jurors rejected Musk's claim that Twitter underreported fake accounts.
Damages could reach $2.5 billion for investors who sold during May and October 2022.
Musk's lawyers plan to appeal.
He is negotiating a separate Securities and Exchange Commission (SEC) settlement over his Twitter purchases.