Elon Musk Calls Twitter Verdict a Mockery of Justice Over Jury's $4.20 Stunt

Billionaire entrepreneur Elon Musk has strongly criticised a recent jury verdict that found him liable for misleading Twitter investors, calling the decision a “mockery of justice” and alleging that jurors inserted a “joke” into their findings. The dispute stems from a civil trial examining Musk’s 2022 tweets about fake accounts on Twitter, now rebranded as X, and their impact on the company’s stock price.

In a letter submitted to the federal judge overseeing the case, Musk’s attorney Alex Spiro argued that the trial was unfair and questioned the jury’s conduct. He highlighted that the jury had marked the figure “$4.20” in blue ink while calculating damages, suggesting it was a deliberate reference tied to Musk’s past associations with the number. The legal team described the inclusion as “bizarre and highly questionable,” claiming it undermined the seriousness of the verdict.

The jury, however, concluded that Musk had misled investors through two tweets posted in May 2022, in which he raised concerns about the prevalence of fake accounts on the platform. According to the ruling, these statements contributed to a decline in Twitter’s stock value during a period when Musk was attempting to withdraw from his $44 billion acquisition deal. Investors who filed the lawsuit argued that they suffered financial losses as a result.

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While the jury held Musk liable on specific claims, it rejected other allegations, including accusations that he engaged in a broader scheme to defraud investors or violated securities law through additional statements. The verdict marks a rare legal setback for Musk, whose business ventures have often been accompanied by high-profile legal scrutiny.

Lawyers representing the investors dismissed Musk’s objections, urging the court to strike his attorney’s letter from the record. They described the submission as improper and argued that it misrepresented the trial proceedings. The legal battle is expected to continue, with Musk’s team indicating plans to appeal the verdict in higher courts.

The case also revisits Musk’s history with the number “420,” notably linked to his 2018 tweet about taking Tesla private at $420 per share, which previously drew regulatory attention. In the current case, the jury’s damage assessment included a range of figures for stock price impact over several months in 2022, with the $4.20 entry standing out. The final compensation amount to be paid to investors will be determined in subsequent proceedings, with estimates suggesting potential liabilities could reach billions of dollars.

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