July finds Elon Musk guilty of misleading investors during Twitter purchase

March 23, 2026

TL;DR

Elon Musk was found guilty by a California jury of misleading investors during his $44 billion purchase of Twitter in 2022.
The lawsuit concerned tweets and podcast comments made by Musk, including one stating the Twitter deal was "temporarily on hold," which caused the company's shares to drop.
Musk could be liable for up to $2.6 billion in damages.
The jury also found that Musk did not intentionally "scheme" to mislead investors and that his podcast statements were not an issue.
Musk's legal team stated they will appeal the ruling.
This verdict is seen as a victory for public markets, emphasizing that even powerful individuals must obey the law.

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