Musk was ruled to have misled shareholders on Twitter causing them to "lose money"

A federal jury in the United States ruled on March 20th that American entrepreneur Elon Musk made misleading statements during his acquisition of the social media platform Twitter in 2022, causing losses to Twitter shareholders. Some Twitter shareholders filed a lawsuit, alleging that Musk's two tweets in May 2022 and his statements on a podcast show constituted intentional fraud. The jury found that Musk did mislead investors through his tweets, but his statements on the podcast were not deceptive, and there was no evidence of a "scheme" to defraud investors. After making the ruling, the jury will determine a specific amount of compensation based on the drop in Twitter's stock price due to Musk's statements. Musk's legal team has stated that they will appeal the decision.