Elon Musk testified in court that his 2022 tweet putting the Twitter acquisition 'on hold' over bot concerns 'may not have been my wisest' as he faces a $44 billion lawsuit from investors alleging market manipulation. The tweet caused Twitter's stock to drop 9% and investors claim Musk used it as leverage despite being legally bound to complete the deal. This case represents ongoing legal scrutiny of Musk's social media communications.
Background
Elon Musk's acquisition of Twitter (now X) has been surrounded by legal controversies, particularly regarding his use of Twitter to communicate about the deal. This case follows a pattern of Musk's tweets impacting markets and facing regulatory scrutiny.
- Source
- Ars Technica
- Published
- Mar 5, 2026 at 10:40 PM
- Score
- 6.0 / 10