Musk on trial over tweets ahead of Twitter purchase
Billionaire Elon Musk’s brief effort to back out of buying Twitter in 2022 is the focus of a trial that kicked off Monday over claims the world’s richest person manipulated the company’s stock price to get himself a better deal.Musk eventually paid $44 billion for Twitter that fall, closing the buyout at the $54.20-per-share price he had originally agreed to six months earlier. But during the in-between months, a group of investors allege, Musk publicly attacked the company in a ruse to drive down its market value and benefit himself at their expense.The trial in San Francisco federal court will cover familiar ground, namely the serial entrepreneur’s unconventional penchant for communicating with the market through tweets — which has gotten him into trouble before. Musk is slated to be the star witness.
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