Elon Musk will testify in court on April 3, 2025, in a lawsuit filed alleging that he harmed investors in the process of purchasing the Twitter platform (now known as X). The purchase process, which took place in 2022, has led to various legal disputes due to allegations that Musk tried to manipulate stock prices. Plaintiffs claim that the famous entrepreneur deliberately tried to reduce the cost of the purchase by trying to reduce the value of the stock.
Elon Musk to testify in Twitter case
Although Musk initially tried to have the process conducted remotely through his lawyers, he finally agreed to testify in court face to face with the plaintiffs. At the hearing to be held in Washington, Musk will present his defense against the claims that Twitter shareholders were harmed. One of the main bases of the case will be the allegations that the statements made by the entrepreneur in 2022 created a misleading impression on investors about the functioning of Twitter.
Famous entrepreneur Elon Musk will testify officially in the Twitter case. On the other hand, the US Securities and Exchange Commission (SEC) has also filed a separate accusation against Musk. According to the SEC, Musk tried to gain an advantage in the market by not reporting this on time, despite increasing his Twitter share to over 5% in April 2022. It is alleged that the famous businessman manipulated the stock prices by maintaining his influence with this move. According to the statement, it was determined that uninformed investors suffered a total loss of more than $150 million during this process.
Artificial intelligence was caught cheating in a chess game. This interesting event has already caused many important concerns.
Now, all eyes are on Elon Musk’s statement in court. The hearing on April 3 may pave the way for new developments. So what do you think about this issue? You can share your views with us in the comments section below.
