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Musk found liable to Twitter shareholders in fraud lawsuit over $44bn takeover

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Musk found liable to Twitter shareholders in fraud lawsuit over bn takeover


Elon Musk attends the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. — Reuters/File

A US federal jury found Elon Musk liable on Friday for claims he defrauded Twitter shareholders by trying to drive down the social media company’s stock price so he could renegotiate or back out of a $44 billion takeover in 2022.

The verdict from a jury in San Francisco federal court came in a closely watched civil trial where Musk, the world’s richest person, was accused of falsely claiming on social media that Twitter underreported how many fake and spam accounts, known as bots, were on its platform.

Damages have yet to be calculated but Francis Bottini, a lawyer for the shareholders, estimated they could total about $2.5 billion.

“Musk’s status as the world’s richest man is not a free pass,” Bottini said in a statement. “If you’re able to move markets with your tweets you’re responsible for the harm you cause to investors.”

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.”

The civil trial began on March 2, and jurors began deliberating on Tuesday.

Musk has often chosen to battle shareholders in court rather than settle.

This included a 2023 trial in San Francisco over whether he defrauded Tesla shareholders who claimed to suffer losses after he falsely claimed in 2018 to have “funding secured” to take the electric car company private, and litigation in Delaware over his $139 billion Tesla pay package. Musk won both cases.

Musk ultimately completed his purchase of Twitter in October 2022 and renamed it X.

Musk liable for two statements

Twitter shareholders challenged three statements Musk made not long after agreeing in April 2022 to buy Twitter, where he questioned whether the company was overrun with bots.

Jurors found Musk liable for two of the statements.

One said the purchase was “temporarily on hold” pending confirmation that bots represented less than 5% of users. The other said the percentage of bots could be “much” higher than 20%, and the takeover could not go forward unless Twitter’s chief executive proved the percentage was less than 5%.

Jurors also said the shareholders didn’t prove a separate claim that Musk engaged in a scheme to defraud them.

Michael Lifrak, a lawyer for Musk, countered that the billionaire’s concern about bots was real, and that speaking out about the problem did not show Musk committed or intended to commit fraud.

The lawsuit covers investors who claimed to sell Twitter shares at prices Musk artificially depressed between May 13 and October 4, 2022.

Musk is separately in talks to settle a US Securities and Exchange Commission civil lawsuit accusing him of waiting too long in 2022 to disclose his initial purchases of Twitter so he could buy more at low prices before investors saw what he was doing.

In February, Musk’s rocket and space exploration company SpaceX bought his artificial intelligence company xAI, which housed X. The purchase created the world’s most valuable private company, worth about $1.25 trillion at the time.





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Kim Kardashian faces legal trouble by ‘innocent’ man

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Kim Kardashian faces legal trouble by ‘innocent’ man


Kim Kardashian faces legal trouble by ‘innocent’ man

Kim Kardashian is facing a fresh legal battle after a New York man, whom her lawyers previously accused of filing a “meritless” lawsuit, vowed to overturn a court order requiring him to pay her more than $167,000 in legal fees. 

Ivan Cantu had originally sued the 45-year-old reality star after she accidentally shared his photo on social media in February 2024, mistakenly identifying him as a Texas death row inmate with the same name who was about to be executed. 

Although the defamation case was dismissed last November, a Los Angeles Superior Court judge ruled on Monday that Cantu must reimburse Kardashian for her legal costs, despite his claims that the bill would destroy him financially.

The dispute began when Kardashian, a high-profile advocate for criminal justice reform, posted the wrong Cantu’s snap to her 350 million followers. 

While her team called it an “honest mistake” that was corrected almost immediately, the New York-based Cantu argued the mix-up caused him lifelong trauma, anxiety, and depression. 

His lawyer, Greg Sobo, told the Daily Mail on Tuesday that they are proud to stand by an “innocent victim who was slandered,” adding that Monday’s ruling is simply one step in the process of obtaining justice against the “rich and powerful.”

In the recent ruling, Judge Michael Small described Cantu’s argument, that it was unfair to make him pay because Kardashian is wealthy and he is of modest means, as “unavailing” on a legal basis. 

The judge noted that income disparities were irrelevant to the law, which entitles a prevailing party to recover reasonable attorney’s fees.

Kardashian’s legal team has been firm, stating that Cantu miscalculated by thinking he could “force a payout” based on her celebrity status, and that he must now face the consequences of his failed “gambit.”

However, the decision to aggressively pursue the $167,473.69 payment has sparked a backlash among fans and social media users. 

On a Kardashian-themed subreddit, the star was described as “petty” and “greedy” for chasing such a sum from a private family man when her own net worth is estimated at over $1.9 billion. 

Critics argued that while celebrities often do this to discourage frivolous lawsuits, Kardashian should have let this one go given that her team “royally messed up” by using the wrong man’s likeness in such a sensitive context.

As it stands, Cantu’s legal team remains confident that the order will be overturned on appeal, insisting that the current ruling is inconsistent with California law. 

Kardashian, who is currently linked to F1 driver Lewis Hamilton, has yet to comment personally on the ongoing friction. 

For now, the case serves as a stark reminder of the immense power of a single social media post and the very different realities of those caught in its wake.





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President to undergo medical examination amid serious concerns

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President to undergo medical examination amid serious concerns


Trump health update: President to undergo medical examination amid serious concerns

U.S. President Donald Trump will undergo a medical and dental checkup on May 26 at Walter Reed National Military Medical Centre.

The medical checkup was confirmed by White House on Monday, May 11, describing it as “a routine annual dental and medical assessment as part of his regular preventive health care.”

This marks his fourth disclosed medical visit since his return to office.

Trump is about to turn 80 this June, becoming the oldest person ever elected to the White House.

Health concerns for Trump have increased following his public appearances, showing bruises and wounds to his hands, along with bruises on his skin.

Trump’s doctor, Navy Captain Sean Barbabella, had stated that the bruises were due to “handshaking frequently and taking aspirin.” He reportedly consumes 325 milligrams of aspirin each day, more than is advised by his physicians, as a preventative measure against heart disease.

Despite increased health scrutiny, the president has dismissed all concerns. While talking to reporters on Monday, he said he feels “literally the same” as he did 50 years ago.

“I don’t know why. It’s not because I eat the best foods,” he said. 





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Taylor Swift spends quality time with family in New York City

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Taylor Swift spends quality time with family in New York City


Taylor Swift spend quality time with family in New York City

Taylor Swift has enjoyed a rare evening out with her entire family in New York City, taking over a West Village steakhouse for a special dinner on 11 May.

The 36-year-old superstar was spotted at The Eighty Six with her parents, Scott and Andrea Swift, and her brother, Austin, proving that despite her global fame, she still makes time for her inner circle.

Stepping out in a sequined black Valentino minidress paired with silver heels and her signature red lipstick, the singer arrived hand-in-hand with her mother for the family reunion.

The choice of location was a nostalgic one for the Cruel Summer artist, as the West Village was once her local neighbourhood during her time living on the famous Cornelia Street. 

Although she now lives in nearby Tribeca, she is frequently seen returning to her old stomping grounds. 

Her fiancé, Kansas City Chiefs star Travis Kelce, wasn’t at the dinner table this time, but the pair have been inseparable lately. 

Only days before the New York outing, the couple were in Greece celebrating the wedding of Travis’ teammate George Karlaftis and Kaia Harris on 9 May.

Following that star-studded ceremony, attention has naturally turned back to Taylor and Travis’ own wedding plans. While the couple have kept specific details under wraps, Taylor previously shared her excitement about the planning process during an appearance on The Graham Norton Show

She mentioned that she expects the experience to be a fun one, noting that weddings only tend to get stressful when the guest list is restricted and people are left wondering if they’ve made the cut.





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