The post Elon Musk Pushes for Dismissal of Massive $258B Dogecoin Lawsuit appeared first on Coinpedia Fintech News
Elon Musk’s lawyers have requested a US judge to dismiss a $258 billion lawsuit filed by Dogecoin investors, accusing Musk of promoting a pyramid scheme for the cryptocurrency. The lawsuit alleged that Musk drove up Dogecoin’s price by over 36,000% and then let it crash. However, Musk’s lawyers argued that his tweets about Dogecoin were “innocuous and often silly” and too vague to warrant a fraud claim. They referred to the lawsuit as a “fanciful work of fiction” and attempted to convince the judge to throw out the case.