Elon Musk is seeking the dismissal of a $258B lawsuit accusing the Tesla CEO of running a scheme to support the meme cryptocurrency Dogecoin.
Highlights
- Elon Musk’s legal team is seeking dismissal of a $258B lawsuit accusing the Tesla CEO of running a scheme to support the meme cryptocurrency Dogecoin.
- The request was filed by Musk’s legal team in a Manhattan federal court.
- Musk has always advised everyone to be careful with digital currencies, which he said in an impromptu interview in May 2021 should be considered ‘speculation at this point’ The lawyers dubbed the lawsuit a “fanciful work of fiction” over the CEO’s “innocuous and often silly tweets” about the cryptocurrency.
- The plaintiffs are seeking $258 billion in damages, which is three times the estimated decline in the market value in the past year.
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