Elon Musk's $44B Twitter deal tweets land him in court
Elon Musk is in court over claims he used tweets in May 2022 to mess with Twitter's stock price while trying to back out or change his $44 billion buyout deal.
Investors say his posts—like putting the deal "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users." over spam bots—sparked panic and cost them money, even though takeover talks were still happening.
Musk's team says he never meant to manipulate market
The trial kicked off Monday. Lawyers for the investors accuse Musk of knowingly "cheated investors," but his team says this isn't fraud at all.
Jury selection showed strong feelings about Musk: nearly half of potential jurors were dismissed for bias.
Investors are seeking up to $1 billion in damages, while Musk insists he never meant to manipulate the market and is already juggling other lawsuits.