Philenews

Musk's Twitter Case Backfires: Found Liable for Stock Drop

Published March 21, 2026, 14:11
Musk's Twitter Case Backfires: Found Liable for Stock Drop

Elon Musk has been found liable by a jury for the drop in Twitter's (now X) stock price in 2022, following his statements about bots and fake accounts. The jury sided with investors who accused Musk of public defamation in order to lower the stock price and achieve a better acquisition deal. The trial focused on whether Musk intended to influence the market with his comments. Although the jury dismissed some charges, they confirmed that Musk's statements lowered the stock price. The exact amount Musk will have to pay has not yet been determined, but is estimated to potentially reach billions of dollars.