Veröffentlicht von • Elon Musk and his legal team are seeking the dismissal of a long-standing lawsuit between him and a group of Dogecoin (DOGE) investors.
• The lawsuit is based on the fact that Elon Musk has used his influence to manipulate the DOGE market for profit, exposure, and pleasure.
• As a result, the class-action lawsuit seeks damages up to $258 billion in damages and compensation for investors who have suffered losses.
Elon Musk Seeks Dismissal of Dogecoin Lawsuit
Tesla’s CEO Elon Musk and his legal team are pursuing the dismissal of a long standing DOGE lawsuit. Alex Shapiro, who is representing Musk in this matter, has filed a motion of dismissal with a New York federal court describing the complaint as an “abusive and belligerent litigation tactic” from the opposing counsel.
Musk’s Influence on Dogecoin
As one of the most influential figures in the DOGE ecosystem, Elon Musk has earned himself the nickname “Doge Father” due to his tweets about cryptocurrency which often lead to significant price movements for DOGE coin holders. This led to Evan Spencer Law filing a class-action lawsuit against him in New York District Court claiming that he is using his influence to manipulate Dogecoin’s market for profit, exposure, and pleasure.
Lawsuit Seeks Damages Up To $258 Billion
The lawsuit seeks an injunction defining DOGE trading to be gambling under New York and federal law as well as damages up to $258 billion in compensations for investors who have lost their funds due to this manipulation by Musk. Plaintiff Keith Johnson emphasizes that both SpaceX & Tesla Inc unjustly benefited up to $86 billion from wire fraud or false advertising amongst other illegal behavior related to this case.