SAN FRANCISCO (AP) — Closing arguments are set to kick off Tuesday in a trial pitting Elon Musk against Twitter shareholders who say the world’s richest man engaged in a pattern of deceptive behavior that misled investors as he attempted to back out of his $44 billion deal to buy the social media platform in 2022.
The civil trial in San Francisco centers on a class-action lawsuit filed just before Musk took control of Twitter, which he later renamed X, in October 2022, six months after agreeing to buy the embattled company for $44 billion, or $54.20 per share. The price represents a sliver of the Tesla CEO’s fortune, now estimated at $839 billion.
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