Monte Mann Discusses Elon Musk Twitter Verdict in International Press
Armstrong Teasdale Partner Monte L. Mann was quoted in numerous publications on a jury verdict on Friday, March 20, which found Elon Musk liable for making misleading statements about bots on Twitter prior to his 2022 acquisition of the social media site. The suit was filed in October 2022 by former Twitter shareholders who alleged that Musk made the tweets to lower the stock price prior to purchasing the company for $44 billion. The jury also found, however, that he did not deliberately scheme to defraud investors.
Speaking to the Associated Press, Mann said the verdict “sends a clear message—if you move the market with your words, you own the consequences.”
He added, “When one person can move billions with a tweet, the consequences of those statements are amplified — and juries are starting to take that seriously.”
A business trial lawyer in Chicago for over 30 years, Mann is a thought leader who appears as a legal analyst on business litigation in the national and international press. In addition, he is often asked for comment by some of the nation’s most influential voices on business litigation including Bloomberg Law, The American Lawyer, The National Law Journal, Corporate Counsel, Law.com, and The New York Law Journal.
Read the full articles below (subscription may be required for some):
Associated Press: Jury finds Elon Musk misled investors during Twitter purchase, absolves him of some fraud claims
BBC: Elon Musk misled Twitter investors, jury finds
Fox Business: Elon Musk misled Twitter investors ahead of acquisition, jury says
NPR’s KQED: Elon Musk to Owe Billions After Jury Finds He Misled Twitter Investors Before Takeover
San Francisco Chronicle: Elon Musk misled Twitter investors, San Francisco jury finds
The Guardian: Musk responsible for Twitter investors’ stock dropping when he bought company, jury rules
Business Insider: Jury finds Elon Musk misled shareholders during Twitter takeover
