A jury has concluded that Elon Musk defrauded Twitter investors when he disparaged the company in 2022 in an effort to buy the social media platform for a lower price than his original $44 billion bid, Bloomberg reports.

Jurors in federal court in San Francisco found on Friday that Musk intentionally misled Twitter shareholders when he tweeted that the social media network, which was later renamed X, had too many fake accounts and then tried to back out of the deal, the report added.