A jury has found Elon Musk liable for misleading investors during his acquisition of Twitter, determining that the billionaire deliberately drove down the social media company's stock price in the months leading up to his $44 billion purchase in 2022.

The lawsuit was brought by Twitter investors who alleged that Musk attempted to manipulate the company's share price to renegotiate his original acquisition offer. The social media platform, which Musk later renamed X, became the subject of a tumultuous takeover process that lasted several months.

While the jury found Musk liable for misleading investors, it absolved him of some fraud allegations according to the verdict. The specific damages awarded to investors were not detailed in initial reports of the jury's decision.

The acquisition of Twitter for $44 billion was completed in October 2022, following a protracted legal battle that included Musk's initial attempt to withdraw from the deal. The purchase marked one of the largest social media acquisitions in history and led to significant changes in the platform's operations and policies under Musk's ownership.

The verdict represents a significant legal development for Musk, who has faced multiple lawsuits related to his business dealings and public statements. The case centered on whether his actions and communications during the acquisition process constituted deliberate manipulation of Twitter's stock price to benefit his negotiating position.