Musk's motives are debated as Twitter shareholder trial nears end
Airfind news item
By Abhirup Roy
Published on March 17, 2026.
A lawyer for former Twitter shareholders, Mark Molumphy, has argued that billionaire Elon Musk defrauded shareholders by publicly questioning whether Twitter was overrun with fake and spam accounts and attempting to back out of or renegotiate his $44 billion purchase of the social media platform in 2022. He also claimed that Musk was not fazed when he signed the merger agreement despite knowing Twitter understated the number of bogus accounts. The jury dismissed without reaching a verdict. The lawsuit covers investors who sold Twitter stock between May 13 and October 2022. If the answer is no, the jury will consider possible damages.
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