Elon Musk’s Fraud Trial: Jury’s $4.20 Joke Raises Concerns
Elon Musk’s attorney argues the billionaire did not receive a fair trial due to a “bizarre and highly questionable” joke included in the jury’s verdict form when they found him liable for defrauding Twitter Inc. Shareholders before acquiring the social media platform, now known as X.
Attorney Alex Spiro, in a letter to the federal judge overseeing the civil trial, highlighted the jury’s calculation of how Musk’s tweets impacted Twitter’s stock price. The panel specifically emphasized the number $4.20 in blue ink. This number is widely recognized as cultural slang referencing marijuana use.Bloomberg
The jury determined on Friday that Musk misled investors.Bloomberg
Background of the Lawsuit
The lawsuit centered around Musk’s tweets in 2022 regarding his intention to purchase Twitter for $54.20 per share. Investors alleged that these tweets were misleading, causing fluctuations in the company’s stock price.Bloomberg
The Significance of $4.20
The inclusion of $4.20, a number associated with cannabis culture, has raised questions about potential bias within the jury. Spiro contends that this demonstrates a lack of impartiality and suggests the jury may have been influenced by factors unrelated to the evidence presented.Bloomberg
Potential Outcomes
Musk’s legal team is seeking a fresh trial based on these claims. The judge will need to determine whether the jury’s actions warrant a retrial or if the original verdict will stand.Bloomberg The outcome of this case could have significant implications for future legal proceedings involving high-profile figures and social media communications.