Musk calls for judge to reassess Twitter verdict, questions jury's integrity

• Musk's attorney Alex Spiro claims jurors 'mocked' Musk by writing '$4.20' in bright blue ink while other entries were in black, referencing marijuana culture and Musk's frequent use of the number 420
• The jury found Musk liable for two statements questioning whether Twitter was accurately counting spam bots, which investors claim was intended to pressure Twitter into renegotiating the buyout price
• Musk has repeatedly used '420' in business contexts, including pricing Tesla's Model S at $69,420 in 2020 and his 2018 tweet about taking Tesla private at $420 per share

Summary

Elon Musk's legal team has filed a motion urging a federal judge to reassess a recent jury verdict that found Musk liable for defrauding investors in connection with statements made during Twitter acquisition discussions. The verdict was delivered on March 20 in San Francisco federal court.

Musk's attorney, Alex Spiro, argues the jury's integrity is questionable, citing that jurors wrote "$4.20" in bright blue ink on the verdict form while other entries were in black. Spiro characterized this as a "numerical joke" and "mocking" behavior, claiming the jury intended to send a message to Musk rather than rendering an impartial verdict. The number 420 is commonly associated with marijuana culture.

The case centers on two statements Musk made following his buyout announcement, where he allegedly questioned Twitter's user metrics. Investors claim Musk made these statements to pressure Twitter into voiding the acquisition agreement or reducing the purchase price.

Market Context: Musk has frequently referenced "420" in business dealings. Most notably, in 2018, he tweeted about taking Tesla private at $420 per share with "funding secured," which later resulted in an SEC settlement. In 2020, he reduced Tesla Model S pricing by 4% to $69,420.

Lawyers for the investors have not yet commented on Spiro's allegations. The motion adds to ongoing legal challenges facing Musk, the world's richest person, as he continues to face scrutiny over his social media statements and their market impact.

The outcome could have implications for executive communications and social media disclosures in corporate transactions.