368
submitted 2 weeks ago* (last edited 2 weeks ago) by Beep@lemmus.org to c/technology@lemmy.world

A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not "scheme" to mislead investors.

you are viewing a single comment's thread
view the rest of the comments
[-] Ulrich@feddit.org 6 points 2 weeks ago

Not necessarily, the fine just needs to be a sufficient size.

[-] Triumph@fedia.io 15 points 2 weeks ago
[-] bobs_monkey@lemmy.zip 5 points 2 weeks ago

Sanka, ya dead?

[-] Ulrich@feddit.org 1 points 2 weeks ago

"Wake me" when anything at all happens...? The point is, they have the power.

[-] muusemuuse@sh.itjust.works 7 points 2 weeks ago

Fines are not assessed that way.

[-] then_three_more@lemmy.world 4 points 2 weeks ago

Some are, but they often have maximum caps.

So for a UK speeding fine he'd get a £1000, but if it's wasn't capped it would be somewhere in the region of 340 million.

Your Speeding Offence Details

Speed Limit: 30 mph Recorded Speed: 35 mph Excess Speed: 5 mph Offence Band: A Road Type: Standard Road What This Means For You

Your offence falls into Band A, which carries a fine of 50% of your weekly income. Based on your weekly income of £640,000,000, your calculated fine is £320,000,000. This has been capped at the maximum of £1000 for standard road offences.

[-] yakko@feddit.uk 4 points 2 weeks ago

Why would any such fines be capped, unless the entire point is to effectively legalise crime for the ultra rich?

[-] Tanoh@lemmy.world 3 points 2 weeks ago
[-] yakko@feddit.uk 3 points 2 weeks ago

More chagrined than anything else. Having dual citizenship with US and UK is like having one foot in the grave and another foot in the toilet sometimes.

[-] IsoKiero@sopuli.xyz 2 points 2 weeks ago

Finland has similar thing, but it is not capped. There's a ton of 100 000+€ fines given around here. Obviously with Musk it would be a bit different, since the fine is based on actual income, not some imaginary monopoly money on the stock market.

[-] Ulrich@feddit.org -3 points 2 weeks ago
[-] slevinkelevra@sh.itjust.works 5 points 2 weeks ago

Disclaimer: I know you're probably only trolling, but I'll answer anyway:

...not assessed in a way to be of sufficient size to not just be considered a cost of doing business. In other words, pricey enough to take away the incentive to not only take away the profit but to also deal a significant blow to the wealth of the richest person on earth.

[-] Ulrich@feddit.org 1 points 2 weeks ago

No one is "trolling", you jackass. Just assess them in a different way, is the very obvious point that I was getting at.

[-] muusemuuse@sh.itjust.works 2 points 2 weeks ago

Percentage of profit accrued from the offense. They are static values.

[-] Ulrich@feddit.org 1 points 2 weeks ago

...I didn't say anything about how they're assessed. Assess them in a different way.

this post was submitted on 21 Mar 2026
368 points (99.5% liked)

Technology

83560 readers
996 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related news or articles.
  3. Be excellent to each other!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
  9. Check for duplicates before posting, duplicates may be removed
  10. Accounts 7 days and younger will have their posts automatically removed.

Approved Bots


founded 2 years ago
MODERATORS