Court upholds Twitter investor verdict against Musk, trims one statement

After a March 20, 2026 jury verdict that Elon Musk misled Twitter investors through statements in May 2022, Judge Charles R. Breyer of the Northern District of California denied Musk's requests for a new trial and to decertify the class. The court granted judgment for Musk on a May 17, 2022 statement for lack of loss-causation evidence, and approved prejudgment interest and a class notice and claims process.

Why it matters. Securities class actions rarely reach a jury, and the ruling shows how a court tests loss causation and class certification after a verdict for investors.

The case notice website lists a November 24, 2026 deadline to submit a claim. The class is defined as persons and entities who sold Twitter publicly traded stock or call options, or purchased Twitter put options, from May 13 through October 4, 2022, inclusive, and who suffered damages from the violation; eligibility and any payment are determined through the court-approved claims process.