Twitter Sued Over Fraudulent Statement Verdict

SAN FRANCISCO, Nov. 10, 2026 /CourierPR/ -- Twitter, Inc. has reached a significant milestone in its ongoing legal battle with Elon Musk. The company is now eligible for compensation from a class action lawsuit, following a jury verdict that found Musk in violation of federal securities laws. The two-week trial began on March 2, 2026, in the United States District Court, Northern District of California, San Francisco Division. On March 20, 2026, the jury returned a verdict, finding Musk liable for making false and misleading statements about his acquisition of Twitter, in violation of Section 10(b) of the Securities Exchange Act of 1934. As a result of these fraudulent actions, the jury determined that Twitter's stock price was artificially deflated between May 13, 2022, and October 4, 2022, both dates inclusive.

The verdict entitles eligible Class Members to submit a Claim Form for the full value of their damages, plus interest. The Class is defined as all persons and entities who sold publicly traded stock or call options, or purchased put options, of Twitter, Inc., during the period from May 13, 2022, through October 4, 2022, both dates inclusive, and who suffered damages by Musk's violations of Section 10(b) and of the Exchange Act. Excluded from the Class are Elon Musk and any individuals who previously opted out of the litigation.

Class Members who are eligible to receive compensation can submit a Claim Form online or postmarked by November 24, 2026, for the following:

- Shares Sold: For shares sold between May 13, 2022, and October 4, 2022, damages were awarded for each trading day as reflected in the verdict, plus interest, with the exception of certain purchases and sales. - Options: For put options purchased or call options sold between May 13, 2022, and October 4, 2022, damages were awarded for each trading day as reflected in the verdict, plus interest, with the exception of certain purchases and sales. - Purchases and Subsequent Sales Made During the Class Period: For purchases and related sales made during the Class Period, the damages per share or per option awarded by the jury for that day may be reduced to account for any gains attributable to deflation for any shares or call options purchased and any inflation for any put options sold during the Class Period.

For example, if you purchased 1,000 Twitter shares any time before May 13, 2022, and sold those shares on May 18, 2022, your damages would equal $7,940.00 (1,000 shares x $7.94, as awarded by the jury for May 18, 2022) plus interest (less any Court-approved deductions).

If you are a member of the Class and want to submit a Claim Form, you must do so by November 24, 2026. You can submit the form online or by post. If you choose to submit a valid Claim Form, your payment will depend on a variety of factors, including the number of shares sold and options purchased or sold, and the corresponding damages awarded by the jury plus interest. However, any final award may be proportionally reduced to account for any attorneys' fees, expenses, or service awards awarded by the Court.

For more detailed statements of the matters involved in this litigation, please see the pleadings and other papers filed with the Court. The operative Complaint, Jury Verdict, and other important filings may be accessed at www.TwitterAcquisitionLitigation.com. Court filings in the litigation can also be examined and copied at any time on the Public Access to Court Electronic Records (PACER) website for a fee at ecf.cand.uscourts.gov, or by visiting the office of the Clerk of the Court for the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102-3489 between 9:00 a.m. and 4:00 p.m., Monday through Friday, excluding Court holidays.