Elon Musk takes witness stand in trial over Twitter takeover

Twitter investors allege the billionaire publicly derided the social network to sink its stock price and buy it at a bargain

Elon Musk took the stand on Wednesday in a trial brought by Twitter investors, who allege the billionaire committed securities fraud as he was buying the social media company in 2022. The class-action lawsuit alleges Musk agreed to buy Twitter but then waffled for months, attacking the company with the goal of bringing down the stock price to get a better bargain.

After contentious legal wrangling, Musk did eventually buy Twitter for $54.20 a share, his original offer, totalling around $44bn. Musk testified on Wednesday that he didn't realize his attacks on the company, mostly done via tweet on Twitter itself, would lower the company's stock price or hurt its investors.