Federal Judge Denies Elon Musk's Attempt to Overturn Verdict in Twitter Fraud Case

A federal judge has rejected Elon Musk's attempt to overturn a jury verdict that found him guilty of defrauding Twitter investors. The lawsuit stems from Musk's efforts to manipulate Twitter's stock price, causing significant investor losses. The judge also awarded prejudgment interest to the investors.

A federal judge has blocked Elon Musk's effort to overturn a jury verdict that concluded he defrauded Twitter investors by attempting to manipulate the social media company's stock price post a $44 billion acquisition agreement.

Judge Charles Breyer, presiding in San Francisco, turned down Musk's motion to decertify the investor class, ultimately granting the investors' request for prejudgment interest. Despite finding Musk not liable for some tweets, Breyer underscored that a momentary change of heart doesn't justify misleading the investing public.

While Musk's representatives remained silent on the matter, investor lawyers have yet to comment. The case accentuates Musk's previous tweets querying Twitter's bot presence, as jurors deemed these claims a deliberate tactic to renegotiate terms or exit the deal, resulting in significant financial losses for investors.