Kasus Akuisisi Twitter Musk Menyesatkan Investor, Potensi Kompensasi Mencapai 2.6 Miliar Dolar

California jury recently ruled on Tesla CEO Elon Musk’s acquisition of Twitter (now X), finding that he made misleading statements during the acquisition process. In this 2022 merger deal valued at $44 billion, Musk questioned the number of bot accounts on Twitter through social media platforms. The jury determined that his specific statements lacked factual basis, causing nearly 10% fluctuations in Twitter’s stock price and harming some shareholders’ interests. According to the plaintiff’s lawyers, the potential damages could reach up to $2.6 billion.

Jury Verdict: Musk Intentionally Misled Twitter Shareholders

The core of this class-action lawsuit revolves around Musk’s statements in May 2022 when he announced the “temporary suspension” of the acquisition. The jury unanimously found that his public posts on May 13 and 17 contained significant false or misleading information. These statements created market uncertainty, leading to nearly a 10% drop in Twitter’s stock price in a single trading day. Many investors sold their shares below the original acquisition price of $54.20 per share. The plaintiff’s lawyers estimate that, based on expert assessments of how much the news affected the stock price, the total damages could reach up to $2.6 billion, with related compensation procedures expected to start within months.

Information Disclosure and Securities Regulations

This case highlights the strict regulations on information disclosure during mergers and acquisitions (M&A). In financial markets, statements by influential individuals directly impact asset pricing. Although the jury ultimately concluded that Musk did not orchestrate a “scheme to defraud,” his public questioning of Twitter’s fake accounts constituted misleading conduct, which materially harmed shareholders trading during that period. This serves as a reminder to market participants that any statements not officially released through regulatory channels such as the U.S. Securities and Exchange Commission (SEC) during major transactions carry a high risk of securities violations.

Damages Could Reach $2.6 Billion, but Musk Can Still Appeal

After the verdict, investors’ lawyers stated that damages could amount to $2.6 billion. However, such a high compensation amount is unlikely to significantly impact Musk’s net worth. According to the Bloomberg Billionaires Index, as of Friday, Musk’s net worth was $661 billion.

It is important to note that the jury’s conclusion is only a “Verdict.” After the verdict, the judge must issue a formal “Judgment” to confirm the damages and determine how to enforce them. Musk’s legal team has explicitly described the verdict as “a bump in the road” and expects to seek redress through an appeal.

This article, “Elon Musk’s Twitter Acquisition Misled Investors, Potential Damages Up to $2.6 Billion,” first appeared on Chain News ABMedia.