TL; DR
U.S. District Judge Charles Breyer made a narrow point in a May 17 tweet, upholding the finding in a May 13 bot tweet, rejecting a bid to overturn a March 2026 jury verdict that found Elon Musk defrauded Twitter investors during the 2022 takeover. Investors say the damages could reach $2.6 billion, and the judge awarded prejudgment interest.
A federal judge has refused to overturn a jury’s finding that Elon Musk defrauded Twitter investors when he took over the platform for $44 billion in 2022. US District Judge Charles Breyer He rejected Musk’s offer overturning Monday’s ruling in most cases.
San Francisco Jury ruled in March Musk’s two tweets in May 2022 about the deal and Twitter’s spambot numbers were significantly false or misleading. Investors say the resulting losses could support losses of up to $2.6 billion.
“Buyer’s remorse is not an exception to the securities laws,” Breyer said, adding that the laws are “essentially about trust.” The judge found substantial evidence that Musk’s May 13 tweet, claiming that bot data from the deal was unexpectedly stored, was literally false.
Breyer cited testimony from one of Musk’s own bankers, who said he was surprised by the tweet and that Musk never actually terminated the deal. A jury could have concluded that Musk had a motive to avoid the deal and used the bots as an excuse.
He narrowly lost to Musk, agreeing that there was little evidence that a separate tweet on May 17 caused investors to lose the market. Musk’s lawyers did not immediately respond to requests for comment.
Bot excuse, four years later
The case traces back to Musk’s chaotic search for Twitter when he agreed to buy it. tried to get away citing spam accounts. Twitter sued to force the dealand eventually closed at $54.20 before Musk renamed the platform.
Investors filed a lawsuit in October 2022, alleging Musk deliberately talked up the stock to renegotiate or exit. While the jury rejected the broader allegation that he deliberately operated a scheme, they agreed that he had deceived the market.
Breyer also explored Musk’s more colorful arguments, including his claim that jurors mocked him by writing “$4.20” in blue ink on the verdict sheet. The judge noted that the number referred to cannabis, and the jury actually cleared Musk on two counts.
Another legal front for a busy defendant
The decision adds to a crowded docket for Musk recently settled a separate SEC case For his late announcement of his $1.5 million initial Twitter stake. His “funding” ensured the Tesla saga The SEC first filed fraud charges in 2018.
He also fights Sam Altman High-stakes testing over OpenAIall while running the newly public SpaceX. Tweets establishing his mythology continue to generate legitimate accounts.
Prejudicial interest, which Breyer also provided, could push the final number even higher. For a man now worth more than a trillion dollars, that amount may be survivable, but it’s harder to detect that he’s defrauding investors.
