Closing arguments begin in Twitter shareholder trial over Musk's stock manipulation

Closing arguments have begun in the Twitter shareholder trial, with plaintiffs accusing Elon Musk of a pattern of deceptive behavior that drove down Twitter's stock price and cost thousands of investors money, according to AP reporting. The case centers on Musk's attempt to back out of his $44 billion acquisition deal in 2022.

Mark Molumphy of Cotchett Pitre — representing the plaintiffs — argued that Musk deliberately misled investors during the period when he was trying to exit the deal. The core claim: Musk's public statements and actions artificially depressed Twitter's share price, and ordinary shareholders paid the cost.

This isn't the only Musk-related legal battle playing out right now. He's facing scrutiny on multiple fronts, from Tesla shareholder disputes to his role in government. But the Twitter case is specifically about whether one person's public maneuvering caused financial harm to thousands of people who held stock they couldn't dump fast enough.

Previously:

• Musk says his $44B deal tweet "may not have been my wisest"
• SEC sues Musk over Twitter chicanery