**Musk Tells Jury: ‘People Read Too Much’ Into My Posts Amid Investor Misleading Accusations**
**San Francisco, CA –** Elon Musk, CEO of Tesla and SpaceX, testified today in a federal court, telling jurors that “people read too much” into his prolific social media posts. The billionaire is currently defending himself against accusations of misleading investors during his tumultuous $44 billion acquisition of Twitter, now X, in 2022.
Musk’s testimony comes as a central part of his defense in the class-action lawsuit, which alleges that his public statements and tweets created an artificially volatile environment that harmed shareholders who sold Twitter stock during the acquisition period.
Under questioning, Musk reportedly emphasized that many of his posts are not formal financial advice or official company statements, but rather informal musings or opinions not intended to be legally binding. He suggested that sophisticated investors should not have interpreted his often-cryptic or humorous tweets as definitive corporate communications.
The lawsuit, filed by a group of Twitter shareholders, claims Musk deliberately manipulated the company’s stock price by making conflicting statements about his intention to buy the company, the financing for the deal, and the prevalence of bot accounts on the platform. Specifically, plaintiffs point to a series of tweets where Musk initially announced his intent to acquire Twitter, then expressed reservations about the number of spam bots, and later attempted to withdraw his offer, only to complete the deal after Twitter sued him. These shifts, shareholders argue, caused significant market volatility and losses for those who sold their shares before the acquisition was finalized at a premium.
The trial, taking place in a San Francisco federal court, carries significant financial implications, potentially totaling billions of dollars in damages if the jury finds Musk liable. It also scrutinizes the legal boundaries of a public figure’s social media conduct when intertwined with major corporate transactions. Musk, known for his often unconventional communication style, has frequently used his X (formerly Twitter) platform to announce major corporate decisions, engage with the public, and express personal views, blurring the lines between personal expression and official corporate communication.
The trial is expected to continue for several more days, with both sides presenting further arguments and evidence to the jury tasked with deciding whether Musk’s digital rhetoric crossed the line from casual commentary to actionable market manipulation.
