Elon Musk’s legal team has asked a federal judge to overturn a $2.5 billion fraud verdict tied to his acquisition of Twitter, now X. Attorney Alex Spiro alleged jurors improperly used the verdict to send a message by writing "$4.20" in bright blue on the form-contrasting with black ink used elsewhere.
The number 420, long associated with marijuana culture, has been a recurring motif in Musk’s public persona. He referenced it in valuing Twitter at $54.20 per share and in 2018 when he tweeted Tesla would go private at $420 per share-a statement that triggered an SEC fraud lawsuit, later settled.
Musk’s team argues the notation reflects juror bias, undermining the verdict’s legitimacy. The jury found him liable for two statements questioning Twitter’s bot counts, which investors claim depressed stock prices ahead of the October 2022 buyout.
Prosecutors dismissed the claims as baseless. "It goes beyond the pale to attack an extremely diligent jury simply for doing its job," said investor attorneys Frank Bottini and Mark Molumphy.