Verdict, while not a complete loss, could still cost him billions.
Elon Musk was sued in late 2022 after completing his acquisition of Twitter, which he later renamed X.
A San Francisco jury concludes Musk’s claims in 2022 were damaging to a group of Twitter investors.
Mark Molumphy, a lawyer for the investors, said after the verdict he thinks the damages will amount to $2.6 billion.
"Musk's status as the world's richest man is not a free pass," a lawyer for the shareholders said in a statement.
California jurors hand win to investors who sued billionaire saying he publicly disparaged social media platform in 2022