Musk Twitter Shareholders
Elon Musk, center, arrives for a Twitter shareholder trial at the U.S. District Court for the Northern District of California, Wednesday, March 4, 2026, in San Francisco.
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A defiant Elon Musk on Wednesday took the stand in a jury trial to defend himself against accusations that he engaged in a pattern of deceptive behavior that misled investors as he attempted to back out of his $44 billion deal to buy Twitter before he finally completed the takeover. The civil trial in San Francisco centers on a class-action lawsuit filed just before Musk took control of Twitter in October 2022, six months after agreeing to buy the embattled company for $44 billion, or $54.20 per share. The case revolves around allegations that Musk violated federal securities laws that unfairly harmed Twitter shareholders between May 13 and Oct. 4, 2022.
Elon Musk continued to defend his actions in the months leading up to his 2022 purchase of Twitter in court Thursday. He faces a class action lawsuit claiming he misled investors. The civil trial in San Francisco centers on a class-action lawsuit filed just before Musk took control of Twitter, a social media service he renamed X, in October 2022, six months after agreeing to buy the embattled company for $44 billion, or $54.20 per share.
