A $258 billion lawsuit was filed against #Tesla and #SpaceX CEO #ElonMusk , claiming he created a "pyramid scheme" to support the cryptocurrency #Dogecoin . Elon Musk and his lawyers have requested dismissal of this lawsuit, which was filed last year, from a US judge!
Elon Musk's lawyers have requested dismissal of this lawsuit!
According to a news report by Reuters on April 1, Elon Musk's lawyers applied to a federal court in Manhattan on March 31, requesting dismissal of the lawsuit brought against Musk by Dogecoin investors in June 2022, stating that it is "untrue". While the lawyers also added that this is a fictional work, Elon Musk is accused of increasing the price of Dogecoin by over 36,000% in two years and then allowing it to drop. Last year, some investors claimed in their initial filings that he gained his status as one of the world's richest people by manipulating the Dogecoin price.
Elon Musk's lawyers, in an effort to persuade the judge to dismiss the multi-billion-dollar lawsuit filed against Elon Musk, referred to his Dogecoin statements as "funny tweets" and generally described sharing supportive tweets about Dogecoin as not violating any laws. Musk's lawyers also stated that his comments on Dogecoin were too vague to constitute fraudulent misrepresentation. In front of the judge, Elon Musk's lawyers also used the following words: Sharing tweet support and funny pictures about Dogecoin, which continues to maintain a market value of about 10 billion dollars, does not have any illegal aspect.
Dogecoin supporter Elon Musk is facing many lawsuits! As you know, Tesla CEO Elon Musk first mentioned Dogecoin on his personal Twitter account in 2019 and has since made frequent posts about the popular meme coin DOGE. The famous CEO, known as a passionate supporter of Dogecoin by many investors, has been facing this lawsuit since last year. However, this lawsuit is only one of many legal battles he has faced in recent years, including the SEC lawsuit due to Musk's tweets about the privatization of Tesla and the defamation lawsuit filed by Vern Unsworth, which Musk lost in 2019. Despite these legal battles, Elon Musk's entrepreneurial ventures, such as Tesla, SpaceX, and The Boring Company, continue to progress in their respective industries.
The popular meme coin Dogecoin ( #DOGE ) has gained 4% in value in the last 24 hours. Its current price is trading at $0.077188583709, and the popular meme coin project has a market capitalization of over $10.5 billion. Many investors are hoping for a rise in the coming weeks.
