Industry Newsshareholder litigationcorporate acquisitionstwitter
Musk Found Liable For Misleading Twitter Shareholders
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7.2
A California jury on Friday found Elon Musk misled Twitter shareholders during the runup to his $44 billion acquisition, plaintiffs' attorneys said. The class-action case Pampena v. Musk, filed in October 2022, could yield up to $2.6 billion in damages, and Musk's team indicated it will appeal. Claims administration is expected in about 90 days, enabling investors to seek recoveries thereafter.
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