Twitter Investors Who Sold Between May 13 and Oct. 4, 2022 Have Until Nov. 24 to Claim $2.98 to $8.44 a Share From the Jury Verdict Against Elon Musk

Twenty days remain for investors who traded Twitter stock or options during a stretch of 2022 that a federal jury tied to Elon Musk’s tweets. Claims in the case, Pampena v. Musk, must be submitted online or postmarked by Nov. 24, 2026, according to the notice issued by class counsel.

The deadline covers people who sold Twitter common stock or call options, or bought put options, from May 13 through Oct. 4, 2022. The jury set damages for each trading day in that window, from $2.98 to $8.44 a share, but a claim is not a payment, and no payment date has been announced.

Who Has to File by Nov. 24

The class is defined in the claims administrator’s FAQ as all persons and entities who sold Twitter publicly traded stock or call options, or bought put options, from May 13, 2022, through Oct. 4, 2022, inclusive, and were damaged by the alleged violations. Epiq Systems is the administrator, and it lists a mailing address at P.O. Box 3015 in Portland, Oregon.

Elon Musk and anyone who previously asked to be excluded are not part of the class, according to Open Class Actions. That site also reports that class members cannot opt out or object to the verdict at this stage, and that filing is free. ClaimDepot, whose page was updated Nov. 3, gives the same Nov. 24 date.

Banks, brokers and other nominees that hold shares for customers file through a separate process, the administrator’s site says.

What the Jury and the Judge Decided

A federal jury in San Francisco returned its verdict on March 20, 2026, after a trial that began March 2. The jury found that Musk made false or misleading statements about his Twitter purchase and rejected the claim that he ran an intentional scheme to defraud investors, Courthouse News reported.

U.S. District Judge Charles Breyer ruled on Musk’s post-trial motions on July 6. According to Courthouse News, he granted judgment for Musk on the May 17, 2022 tweet because there was not enough evidence it caused the class a loss, and denied the motions in every other respect. He refused to decertify the class, and he approved the plaintiffs’ proposed class notice and claims procedure, along with prejudgment interest.

The May 13 tweet, which said the deal was on hold pending bot data, remains the basis of the verdict. Plaintiffs’ attorney Mark Molumphy said the ruling does not affect the damages calculation, which rests on the market drop after that tweet, Courthouse News reported.

At a June 18 hearing, Breyer said it was “readily apparently to the court that Mr. Musk is liable” and called the case “very simple” and supported by ample evidence, according to Bloomberg Law. The same report said the jury did not set a total, and that damages will be determined as investors come forward with claims.

Where $2.98 and $8.44 Come From

The jury did not award a single total. It set a damages figure for every trading day in the class period, and those daily figures run from $2.98 to $8.44 a share, ClaimDepot reports. The class counsel notice gives one example: $7.94 a share for May 18, 2022.

The court’s judgment, filed April 3, 2026, says damages are calculated by multiplying the number of shares or options by the amount the jury awarded per share or per option, adjusted for deflation and inflation, plus pre- and post-judgment interest. The claims administrator performs the calculations for class members with valid claims.

Those per-share numbers are therefore the jury’s measure of harm on a given day, not an amount any claimant is promised. Open Class Actions says the result depends on how a claimant’s sales are matched to earlier purchases, using a first-in, first-out method.

Why a Valid Claim Is Not a Check

Payments will be issued only after the administrator processes all claims and the court rules on attorneys’ fees, expenses and service awards, ClaimDepot reports, and no date is set. Open Class Actions reports that class counsel may ask for fees of up to 31% of aggregate damages plus interest, expenses capped at $5 million and service awards of up to $150,000, all subject to court approval.

The class counsel notice says awards may be proportionally reduced by those court-approved amounts. Plaintiffs’ attorneys have estimated total damages at about $2.6 billion for the whole class, according to Courthouse News. That is an estimate, not a fund set aside, and it is not what any one investor would receive.

The judgment also says the court keeps jurisdiction over the notice and claims process, the plan of allocation, distribution, interest and attorneys’ fees, so the court, not the administrator, has the last word on how the money is divided.

What a Claim Requires

Claims need transaction-level detail rather than a simple statement of ownership. Open Class Actions lists broker confirmations or account statements for every Twitter stock and option transaction, holdings at market open on May 13 and Oct. 27, 2022, and the last four digits of a Social Security or taxpayer ID number.

The claims can be filed online or by mailed paper form, both from the administrator’s website, and an online claim is not saved if the filer leaves the page, according to the same site, so gathering records first saves a restart. Large filers can request an electronic template.

Questions about eligibility go to the administrator, Epiq, which lists the toll-free number 1-888-863-8101 on its Banks and Nominees page and on ClaimDepot’s summary.

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This article was produced with AI assistance and edited for accuracy against the sources linked above.

Image: Sam Wheeler – CC BY-SA 3.0/Wikimedia Commons