[U.S. Jury Rules Musk Deliberately Misled Twitter Shareholders and Depressed Stock Price Before Acquisition] BlockBeats News, March 21, according to CNN, a California jury largely sided with Twitter (now renamed X) shareholders on Friday, who accused billionaire Elon Musk of making false statements and intentionally depressing the company’s stock price prior to his $44 billion acquisition of the social media company in 2022. However, the jury did not find Musk involved in a 'broader conspiracy to defraud investors.' This ruling brings an end to a civil class-action lawsuit filed by a group of Twitter shareholders in October 2022—just weeks before Musk officially took over the company. During the weeks-long trial, Musk was compelled to testify in his defense. Musk initially agreed to acquire Twitter in April 2022 but attempted to back out of the deal in the following months, ultimately completing the acquisition. According to estimates from the plaintiffs' attorneys, the jury-awarded compensation is expected to be approximately $2.5 billion, with the exact amount depending on the number of individuals who ultimately submit claims to join the class-action lawsuit. Musk’s attorneys have stated that he plans to appeal the ruling. His representing law firm, Quinn Emanuel Urquhart & Sullivan, noted that Musk has recently succeeded in appeals in unrelated cases in Texas and Delaware.