Musk’s attorney, Alex Spiro, pointed to the fact that jurors wrote the number “$4.20” in bright blue ink on the verdict form, while the other entries were in black, calling it a “numerical joke” likely intended to mock Musk. The number 420 is widely recognized in marijuana culture and has been referenced by Musk in both personal and business contexts. In his $44 billion Twitter buyout, Musk valued the company—now known as X—at $54.20 per share.
“The inescapable conclusion from the face of the verdict form is that the jury felt it appropriate to use its verdict to send a message to Mr. Musk, instead of properly discharging its solemn duty to render a just verdict,” Spiro wrote. He requested a “further inquiry” by U.S. District Judge Charles Breyer, citing other alleged trial errors that he says call the March 20 verdict—potentially carrying $2.5 billion in damages—into question.
Investors’ attorneys Frank Bottini and Mark Molumphy dismissed the claims, calling Spiro’s letter “meritless.” “It is unfortunate that Musk has again decided to criticize the court and the jury, rather than take accountability for his own conduct,” they said. “Given the overwhelming evidence presented at trial, it goes beyond the pale to attack an extremely diligent jury simply for doing its job.”
Jurors found Musk liable for two statements he made shortly after announcing the Twitter acquisition, questioning whether the platform was overrun by fake or spam accounts, known as bots. They did not find him liable for a third statement about bots or for scheming to defraud. Twitter investors argued Musk’s comments depressed the stock price, causing financial losses when they sold their shares. The acquisition closed in October 2022.
Musk has a history of referencing 420 in business. He previously tweeted about taking Tesla private at $420 per share, a post that prompted a U.S. Securities and Exchange Commission civil fraud lawsuit that he later settled. In 2020, he also reduced the price of Tesla’s Model S to $69,420.