Tesla and SpaceX CEO Elon Musk has requested the dismissal of a $258 billion class-action lawsuit that was filed against him over his tweets about Dogecoin. The lawsuit claims that Musk’s tweets caused the value of Dogecoin to rise dramatically, resulting in huge losses for investors.
Elon Musk’s Lawyer presents their response at Manhattan’s federal court
On March 31, Elon Musk’s lawyers presented their response to the lawsuit against him at Manhattan’s federal court. They argued that the allegations were baseless and without merit, and thus should be dismissed.
The case centers around the claim that Musk deliberately misled Dogecoin investors with his tweets and statements regarding the cryptocurrency.
Elon Musk’s legal team argued that the billionaire’s tweets regarding Dogecoin included comments such as “Dogecoin Rulz” and “no highs, no lows. They went on to explain that expressing support for a cryptocurrency with a market capitalization of nearly $10 billion is completely legal.
With the immense popularity of cryptocurrencies in recent years, it’s not surprising that many prominent people have shown their support for these digital assets on social media platforms.
Musk has argued that his statements were merely humorous in nature. Above all, he did not constitute fraud or any other form of unlawful activity. He also stated that he had no intention of manipulating the market or misleading investors. He believes that this case is baseless and should be dismissed by the court.
