$258 BILLION LAWSUIT AGAINST ELON MUSK ENDS AFTER INVESTORS WITHDRAW APPEAL

Elon Musk has dodged a $258 billion lawsuit filed by investors who accused him of manipulating Dogecoin's price through his tweets and public statements, including his infamous "Saturday Night Live" appearance.

The investors claimed that Musk's actions constituted securities fraud and insider trading, seeking $86 billion in damages from Tesla's CEO, plus $172 billion for losses incurred on DOGE trades since 2019.

However, US District Judge Alvin Hellerstein dismissed the case in August, ruling that Musk's statements about Dogecoin were "aspirational" rather than "factual and susceptible to being falsified". The judge also stated that no reasonable investor could rely on Musk's tweets as investment advice.

Following the dismissal, the investors appealed, but they have now withdrawn their appeal, effectively ending the lawsuit. As part of the agreement, Musk and Tesla have also withdrawn their motion to sanction the investors' lawyers for pursuing what they considered a "frivolous" case.

This outcome is a significant win for Elon Musk, who has been embroiled in several high-profile lawsuits in recent years. The case highlights the complexities of cryptocurrency regulation and the challenges of determining liability for market fluctuations.