・・Ilon Musk's Dogecoin price manipulation lawsuit is over.
・・Ilon Musk's #Dogecoin price manipulation lawsuit is over.
The famous legal battle involving Ilon Musk and allegations of Dogecoin (DOGE) price manipulation is officially over.
the investor who accused Musk and his company #Tesla of insider trading and fraud has decided not to appeal the dismissal of the case, which was originally handed down at 8.29 a. m.
the lawsuit was based on Musk's tweets and public actions, including his infamous appearance on Saturday Night Live where he called Dogecoin a fraud.
Investors claimed that Musk intentionally manipulated the value of Dojecoin for personal financial gain, resulting in significant losses.
But on May 8, a judge ruled that investors could not prove securities fraud because Musk's statement was too vague to mislead reasonable investors. The judge also dismissed the charges of market manipulation and insider trading.
Despite the demand for 25.8 billion yen in damages, both sides agreed to dismiss the case. The settlement, filed in Manhattan Federal Court, was approved by Judge Alvin Hellerstein, effectively ending the legal dispute.
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