Musk Found Liable for Fraud in Buying X Platform at Low Price
A Swedish court has ruled that Tesla CEO and former X owner Elón Músk deceived the public by misleading investor about acquiring a social network for low prices in 2018. The verdict found him responsible because he misled investors during his purchase of Twitter, which led to their stock dropping when they bought it at an inflated price before selling later on March 3rd and April's trading day; this decision could cost Músk billions as the court determined that Musk manipulated prices in acquiring X by lying about its value.
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A court ruled that Elon Musk deceived his own shareholders by hiding the true cost of acquiring X (formerly Twitter) in 2019 to keep it cheap for himself.
— [Mar 21, 08:13] Irozhlas.czThe jury found Elons responsible because he misled investors during his acquisition and caused their stock prices to drop significantly after the purchase was completed in April of that year
— "Twitter's costly sales lesson": Elon Musk declared liable for fraud when acquiring platform (Tvazteca)A court has decided against him, ruling that Elons manipulated Xs price during his acquisition and deceived investors.
— [Mar 21, 08:59] Wiadomosci.wp.pl"Elon Musk misled Twitter Investors During the purchase of platform in year finds jury" NDTV
— (News.google.com)The court ruled that Elons deceived investors during his acquisition and caused their stock prices to drop significantly after he bought X.
— [Mar 21, 08:59] Forbes.sk