00:00It's Benzinga bringing Wall Street to Main Street.
00:02A federal judge rejected Elon Musk's bid to void a jury verdict that found he defrauded
00:08Twitter investors by trying to drive down the company's stock price after agreeing to a $44
00:12billion takeover, according to Reuters. U.S. District Judge Charles Breyer also denied Musk's
00:19motion to decertify the investor class and granted investors request for prejudgment interest.
00:25Investors accused Musk of falsely suggesting Twitter was overrun by bots
00:28to renegotiate the deal or back out. A lawyer for the investors estimated Musk could owe $2.6
00:34billion in damages after the March 20th verdict. Breyer found substantial evidence of falsity in
00:39Musk's May 13th, 2022 tweet, but said Musk was not liable for a May 17th tweet because there was
00:46no market reaction. For all things money, visit Benzinga.com.
Comments