Elon Musk Takes The Stand In Ongoing Twitter Shareholder Trial
Elon Musk appeared in a San Francisco courtroom on Wednesday, facing accusations that he intentionally drove down Twitter’s stock price through false and misleading statements before his $44 billion acquisition of the social media platform in 2022. The lawsuit, filed in October 2022, represents Twitter shareholders who sold their stock between May 13 and October 4, 2022. It alleges that Musk violated federal securities laws by issuing public statements "carefully calculated to drive down the price of Twitter stock."
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