Elon Musk took the stand in a shareholder trial Wednesday in San Francisco, where he’s accused of making false and misleading statements that drove down Twitter’s stock price before he bought the social media platform for $44 billion in 2022. The lawsuit was filed in October 2022 on behalf of Twitter shareholders who sold the stock between May 13 and Oct. 4, 2022, when Musk’s purchase of Twitter closed. It claims Musk violated federal securities laws by making false, public statements that were carefully calculated to drive down Twitter's shares.
