In San Francisco, closing arguments began on March 17, 2026, in a civil trial involving Elon Musk and former Twitter shareholders. The lawsuit, filed before Musk took control of Twitter in October 2022, claims he misled investors with deceptive behavior while attempting to back out of a $44 billion deal. The trial primarily focused on Musk's assertions regarding the number of bots on the platform, where he argued that the true proportion of fake accounts was significantly higher than Twitter's declared figure. This discrepancy was cited as a reason for his intention to rescind the purchase agreement. Musk testified that he believed the number of spam accounts was closer to 20%, as opposed to the 5% stated by Twitter in its regulatory filings. Prior to the trial, Musk attempted to withdraw from the agreement to buy Twitter, citing discrepancies in user engagement statistics, leading Twitter to pursue legal action against him in Delaware. Ultimately, Musk reversed his decision and acquiesced to the original terms of the agreement, acquiring the company which he later rebranded as X. The courtroom discussions highlighted Musk’s controversial claims regarding bot accounts that were integral to his rationale for reneging on the deal. His assertions were opposed by Twitter's former CFO, Ned Segal, who maintained that the actual number of spam accounts was approximately 1%. This dispute raised questions about the integrity of the figures presented to the Securities and Exchange Commission by Twitter over the years. Despite Musk's condemnation of the company's reporting practices, Segal asserted that no false filings were made regarding spam account numbers, although he did acknowledge a prior restatement of user metrics due to calculation errors. Additionally, the courtroom proceedings underscored the public's negative perception of Musk, as noted by Judge Charles R. Breyer, who emphasized the importance of a fair trial regardless of individual biases against public figures. The trial's outcome could significantly impact shareholder trust and future dealings involving Musk and social media companies, with potential ramifications reaching beyond Twitter. As this case concludes, it reflects broader issues surrounding corporate transparency and accountability in the tech industry, particularly regarding user engagement data and the consequences of corporate statements that affect stock valuations.