Elon Musk and DOGE: Price Manipulation Lawsuit Ends
After a two-year legal battle, the lawsuit accusing Elon Musk and Tesla of manipulating the price of DOGE has ended.
Investors who alleged that Musk influenced price fluctuations through his tweets and statements,
withdrew their appeal after the court dismissed the case in August.
The case did not result in any penalties or financial damages.
Earlier, investors accused Musk of fraud and insider trading, seeking $258 billion in damages, claiming that he profited from his public statements and tweets, including his appearance on “Saturday Night Live.”
However, the court found that their claims lacked sufficient legal basis, confirming that Musk’s tweets could not be considered grounds for a fraud claim.
Both sides dropped their requests for legal sanctions, with each side accusing the other of deliberately obstructing the proceedings.
The case, which went through four reviews over two years, ended inconclusively, with Musk continuing his public support for the DOGE cryptocurrency.
