Governments vs X: What does it mean for us? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video What did the jury say? Twitter shareholders subsequently filed a class-action lawsuit against Musk. A nine-person jury was asked to decide if the two tweets and comments Musk made on a podcast in May 2022 amounted to him intentionally defrauding Twitter shareholders, who sold their shares based on Musk's statements. The nearly three-week trial, which began on March 2, saw testimony from former Twitter executives, including CEO Parag Agrawal and CFO Ned Segal, as well as Musk. In his testimony, Musk maintained that Twitter's leadership lied about the number of bots on the platform. He also accused them of withholding information from him about how the number of fake accounts was calculated. The jurors, however, found that Musk violated a securities rule that bars false and misleading statements that artificially drive down a stock price, in this case that of Twitter, according to the verdict form. But they also said the shareholders ​didn't prove a separate claim that Musk engaged in a scheme to defraud them. How dangerous are TikTok & Co. for democracy? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Will Musk appeal the ruling? The lawsuit covers investors who claimed ⁠to sell Twitter shares at prices Musk artificially depressed between May 13 and October 4, 2022. The jury awarded the shareholders between about $3 and $8 per stock per day as damages, which the plaintiffs' lawyers estimate to total about $2.5 billion. Joseph Cotchett, an attorney for the plaintiffs, said, "It's an important victory, not just for investors of Twitter, but for the public markets." He added that it "sends a strong message" that "no man is above the law." In a joint statement, Musk's lawyers at Quinn Emanuel Urquhart & Sullivan called the verdict "a bump in the road. And we look forward to vindication on appeal." Edited by: Karl Sexton