Giuseppe Pampena v. Elon R.Musk

Case No. 3:22-CV-05937-CRB
[PROPOSED] JUDGMENT
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UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN FRANCISCO DIVISION
GIUSEPPE PAMPENA, on behalf of
himself and all others similarly situated,
Plaintiff,
vs.
ELON R. MUSK,
Defendant.
CASE NO. 3:22-CV-05937-CRB
CLASS ACTION
[PROPOSED] JUDGMENT
Judge: Hon. Charles R. Breyer
Case 3:22-cv-05937-CRB Document 557 Filed 04/03/26 Page 1 of 3

1 	Case No. 3:22-CV-05937-CRB
[PROPOSED] JUDGMENT
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This action was tried by a jury with the Honorable Charles R. Breyer presiding. The jury
rendered its verdict on March 20, 2026, finding that defendant Elon Musk committed securities
fraud by violating §10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) promulgated
thereunder.
IT IS ORDERED AND ADJUDGED that judgment is hereby entered in favor of Lead
Plaintiffs Brian Belgrave, Nancy Price, and John Garrett, on behalf of themselves and the
following Class:
All persons and entities who sold the publicly traded stock or call options, or
purchased the put options, of Twitter, Inc. during the period from May 13, 2022
through October 4, 2022, both dates inclusive (the “Class Period”), and who
suffered damages by Defendant’s violations of § 10(b) and of the Exchange Act.
IT IS FURTHER ORDERED AND ADJUDGED that Defendant Elon Musk and all
persons who previously requested exclusion from the case at the class certification stage, as set
forth at ECF 226, are hereby excluded from the Class and this judgment.
IT IS FURTHER ORDERED AND ADJUDGED that Plaintiffs and the Class shall recover
damages from Defendant Elon Musk in an amount calculated pursuant to the out-of-pocket
measure of damages in which the number of Twitter shares or call options sold or put options
purchased by each Class Member on a given day during the Class Period is multiplied by the
amount of damages per share or per option awarded by the jury for that day, less any deflation
for any shares or put options purchased and any inflation for any call options sold during the Class
Period, plus prejudgment and post-judgment interest to be determined by the Court. 	These
calculations and the plan of allocation governing the claims administration process will be
performed by the Claims Administrator for all Class Members who submit valid claims.
IT IS FURTHER ORDERED AND ADJUDGED that the Court shall retain jurisdiction
over the notice and claims process, including an appropriate claims procedure, plan of allocation,
and distribution to all Class Members who submit valid claims.
IT IS FURTHER ORDERED AND ADJUDGED that the Court shall retain jurisdiction
over the determination of prejudgment and post-judgment interest.
Case 3:22-cv-05937-CRB Document 557 Filed 04/03/26 Page 2 of 3

2 	Case No. 3:22-CV-05937-CRB
[PROPOSED] JUDGMENT
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IT IS FURTHER ORDERED AND ADJUDGED that the Court shall retain jurisdiction
over any claim for attorneys’ fees and costs, any application to tax costs, and any award or
reimbursement to the Lead Plaintiffs. In accordance with Federal Rule of Civil Procedure 54(d),
the time for Lead Plaintiffs and their counsel to make any such motion or application shall be
extended until such time as the Court shall hereafter direct.
DATED: HONORABLE CHARLES R. BREYER
UNITED STATES DISTRICT COURT JUDGE
April 3, 2026
Case 3:22-cv-05937-CRB Document 557 Filed 04/03/26 Page 3 of 3