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- A US federal jury on Friday found Elon Musk liable for defrauding Twitter shareholders by allegedly attempting to drive down the company’s stock price to renegotiate or withdraw from his $44 billion takeover in 2022.
The verdict, handed down in San Francisco federal court, followed a high-profile civil trial in which Musk, the world’s richest person, faced allegations of falsely claiming on social media that Twitter underreported the number of spam and fake accounts — known as bots — on its platform.
“Musk’s status as the world’s richest man is not a free pass,” said attorney Bottini. “If you can move markets with your tweets, you’re responsible for the harm caused to investors.”
for more, visit : https://thelawreporters.com/elon-musk-liable-twitter-shareholder-fraud-verdict
#legalnews #legalnewstoday #musk #defraudingtwittershareholdersA US federal jury on Friday found Elon Musk liable for defrauding Twitter shareholders by allegedly attempting to drive down the company’s stock price to renegotiate or withdraw from his $44 billion takeover in 2022. The verdict, handed down in San Francisco federal court, followed a high-profile civil trial in which Musk, the world’s richest person, faced allegations of falsely claiming on social media that Twitter underreported the number of spam and fake accounts — known as bots — on its platform. “Musk’s status as the world’s richest man is not a free pass,” said attorney Bottini. “If you can move markets with your tweets, you’re responsible for the harm caused to investors.” for more, visit : https://thelawreporters.com/elon-musk-liable-twitter-shareholder-fraud-verdict #legalnews #legalnewstoday #musk #defraudingtwittershareholdersTHELAWREPORTERS.COMMusk Found Liable to Shareholders in Fraud Suit over $44 Billion TakeoverA US federal jury on Friday found Elon Musk liable for defrauding Twitter shareholders by allegedly attempting to drive down the company’s stock0 Commentarii 0 Distribuiri 348 Views 0 previzualizareVă rugăm să vă autentificați pentru a vă dori, partaja și comenta! - Dr. Sunil Ambalavelil Honoured as “Best Indian Lawyer in Dubai” at Kempegowda Utsava & Business Award 2024Dr. Sunil Ambalavelil, Principal Partner of NYK Law Firm in Dubai, has been honoured with the prestigious title “Best Indian Lawyer in Dubai” at the Kempegowda Utsava & Business Award 2024. The grand ceremony was held on October 27 at the The Ritz-Carlton Dubai, bringing together an esteemed gathering of business leaders, professionals, and community...0 Commentarii 0 Distribuiri 413 Views 0 previzualizare
- Trump Admin Seeks Revival of Executive Orders Targeting Major US Law FirmsThe Trump administration has asked a federal appeals court to reinstate executive orders that sought to penalise four prominent US law firms, claiming that lower court judges exceeded their authority by blocking directives that fall within core presidential powers. In its filing to the US Court of Appeals for the District of Columbia Circuit, the Justice Department said the judges "bent over...0 Commentarii 0 Distribuiri 455 Views 0 previzualizare
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