Elon Musk is expected to take the stand in a shareholder trial on Wednesday in San Francisco, where he’s accused of making false and misleading statements that drove down Twitter’s stock price before he bought the social media platform for $44 billion in 2022.
The lawsuit was filed in October 2022 in the U.S. District Court for the Northern District of California on behalf of Twitter shareholders who sold the stock between May 13 and Oct. 4, 2022, a few weeks before Musk’s purchase of Twitter was finalized. It claims Musk violated federal securities laws by making false, public statements that “were carefully calculated to drive down the price of Twitter stock.”
Steal all Americans sensitive data using DOGE, no big deal. Manipulate the stock market and get caught, that’s a paddlin…
Man we are so fucked as a species.
First is a crime against the common folk. Second is a crime against other rich people. There’s a difference!
I’m convinced that some people who look up to the rich despite being dicks, secretly admire these rich individuals’ underhanded way on how to get rich.
It’s not about money, it’s about power.
USA is just running a “Kingdom of Billionaires” reality show…
They’re not going to face any real consequences whatsoever. They just want you think think they will just like a very predictable TV show.
UHH, I SPEND A LOT OF TIME COURT. I’M BASICALLY A LAWYER. I DESERVE AN HONORARY JD BY NOW. THOUGH PROBABLY NOT, SINCE WE WONT BE ALLOWING LAWYERS ON
MARSTHE MOON.I don’t have the most fantastic memory, but as I recall the stock went up very high after he said he was going to buy it the first time, and stayed higher than it was before he said anything by quite a bit up through his purchase.
To be fair he deflated the stock also after purchase.
I mean, he definitely did it. We all remember the breathless coverage of his 2am ketamine tweets to manipulate the market:
Musk’s May 13 tweet — “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users” — was “false because the buyout was not, in fact, ‘temporarily on hold,’” the lawsuit says. That’s because Twitter did not agree to put the deal on hold, and there was nothing in the merger agreement the two parties signed that allowed Musk to put it on hold, according to the lawsuit.
I wonder if he has enough clout left with the Trump admin to weasel out of this one, like he did with the Tesla deal.
Clout? You mean money? He’s got plenty so he will be just fine with the Trump admin.
Ah yes all his horseshit about the bot problem and how he needed concrete numbers to solve the problem or “die trying.”
Since he still hasn’t even begun to solve it I really hope he just fucking dies… Trying? Yeah let’s go with that.
Paging a Mr. Trying.
you are being paged.
A bullet would be faster and cheaper way of dealing with Elon.
Unfortunately, you can’t kill cancer with a bullet.
Surely we’ve all seen the relevant XKCD https://xkcd.com/1217/
There’s always an XKCD reference.
You can’t cure cancer with a bullet, but you can definitely kill it with one.
Or, at least the host.
This kills the cancer. Not as quickly as it kills the host, but still pretty soon.
