1. BITBILIHome
  2. Article

Elon Musk’s legal counsel wants Dogecoin class-action lawsuit dismissed

• 49 views

TL;DR Breakdown

  • Elon Musk’s legal counsel has asked the court to dismiss the legal dispute brought by disgruntled Dogecoin investors.
  • Heated exchanges and allegations mark an escalation of the lawsuit.

Description

Tesla CEO Elon Musk’s ongoing legal dispute with a group of disgruntled Dogecoin investors has taken another turn as his attorneys argue that the lawsuit has been dragging on for too long. In a recent filing submitted to a New York federal court, Musk’s legal team requested the dismissal of the plaintiff’s revised complaint, claiming … Read more

Tesla CEO Elon Musk’s ongoing legal dispute with a group of disgruntled Dogecoin investors has taken another turn as his attorneys argue that the lawsuit has been dragging on for too long. In a recent filing submitted to a New York federal court, Musk’s legal team requested the dismissal of the plaintiff’s revised complaint, claiming that it is an example of abusive and belligerent litigation tactics. Lead attorney Evan Spencer, representing the class-action lawsuit against Elon Musk, made a third amendment to the complaint in June, introducing additional allegations.

Lengthy legal battle forces prompt dismissal from Elon Musk’s lawyers

Initially seeking $258 billion in damages when filed last June, the lawsuit accuses Musk of engaging in “market manipulation, insider trading, and carnival barking” about the popular meme coin in the cryptocurrency world. Elon Musk’s affinity for Dogecoin has been well-documented over the years, dating back to his initial tweet in April 2019 when he referred to Dogecoin as his favorite cryptocurrency. His interest continued to grow following his acquisition of Twitter.

Notably, Musk’s recent involvement with Dogecoin included a playful stunt where Twitter’s logo was temporarily replaced with Dogecoin’s Shiba Inu mascot, causing the cryptocurrency’s value to rally by 30%. Despite the rollercoaster ride of Dogecoin’s value, Musk’s legal team asserts that his support for the cryptocurrency through tweets and humor is entirely lawful and amounts to mere “puffery.” They argue that expressing support for a cryptocurrency or sharing amusing images related to it does not constitute unlawful behavior.

Heated exchanges and allegations mark an escalation of the lawsuit

Musk’s lawyers further contend that the allegations presented in the lawsuit are unfounded. They assert that the claims are based on the sale of Dogecoin from digital wallets not directly linked to Musk or Tesla. Additionally, they challenge the assertion that Musk’s statements about Dogecoin were materially false or misleading. U.S. District Judge Alvin Hellerstein, who presides over the case, set a deadline for Musk’s legal team to respond to the amended complaint by Monday.

The attorneys representing the Dogecoin investors are expected to file their opposition to the motion for dismissal by early September, according to court proceedings. The legal battle has escalated into a heated exchange between the two sides. Spencer accused Musk’s legal team of employing “dirty tactics” after a New York Post article cited a letter written by one of Musk’s lawyers, Alex Spiro. Spencer alleged that this was an attempt to unfairly influence the lawsuit in favor of Elon Musk’s side.

In response, Elon Musk’s lawyers strongly refuted these claims, asserting that Spencer’s allegations were baseless and suggesting that Spencer’s conduct was questionable. As the case continues to unfold, it remains to be seen how the court will ultimately rule on the motion for dismissal and the validity of the allegations presented by the Dogecoin investors. The legal battle underscores the complex intersection between cryptocurrency enthusiasm, market behavior, and the boundaries of lawful expression in the digital age.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Elon Musk’s legal counsel wants Dogecoin class-action lawsuit dismissed

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月10日 01:39
Next 2023年8月10日 03:42

Related articles

  • China’s Xi Jinping takes center stage in BRICS summit

    Description The recent BRICS summit, hosted by South Africa’s Cyril Ramaphosa, witnessed a significant transformation as the emerging-markets bloc decided to more than double its membership. While the formal host of the event was Ramaphosa, it was the Chinese President Xi Jinping who truly commanded the spotlight. With an air of special treatment and distinct honor, … Read more The recent BRICS summit, hosted by South Africa’s Cyril Ramaphosa, witnessed a significant transformation as the emerging-markets bloc decided to more than double its membership. While the formal host of the event was Ramaphosa, it was the Chinese President Xi Jinping who truly commanded the spotlight. With an air of special treatment and distinct honor, Xi Jinping’s presence resonated throughout the summit, demonstrating China’s growing influence on the global stage. An Unprecedented Welcome: Xi Jinping’s South African Sojourn From the moment Xi Jinping arrived for the summit, it was evident that he was accorded exceptional attention. The Chinese leader’s early arrival earned him a state visit privilege, including the induction into South Africa’s distinguished ‘Order of South Africa’. This reception, a…

    Article 2023年8月27日

  • Crypto giant Binance exonerated from connection to pig butchering scam

    TL;DR Breakdown U.S. District Judge absolved Binance from an $8 million ‘pig butchering’ scam. The victim, Divya Gadasalli, alleged Binance provided services to the scammer. The judge dismissed the claims, citing jurisdiction issues and Binance’s operational ban in Texas. A high-profile crypto scam known as a ‘pig butchering’ scam, a term that originated in Asia, and alludes to the method of fattening a pig up before slaughter, has been making headlines recently, ensnaring even industry titan, Binance, in its fray. A U.S. District Judge, however, has now dismissed allegations against the crypto exchange platform, ruling that Binance was not involved in the $8 million scam. The news comes as the frequency of such scams increases, posing significant challenges to law enforcement agencies worldwide. The anatomy of a pig butchering crypto scam The pig butchering scam, a form of online fraud that targets victims through romantic and financial manipulation, has been on a steep rise. In these scams, fraudsters initiate contact through dating apps or text messages, building a romantic relationship with their victims before introducing them to a high-profit investment…

    Article 2023年5月26日

  • SEC Chair Gary Gensler expresses disappointment over Ripple case verdict

    TL;DR Breakdown SEC Chair Gensler shared mixed views on the Ripple case, approving protection for institutional investors but disappointed about retail investors’ ruling. Gensler stressed the SEC’s ongoing rulemaking activities, countering criticism of regulation by enforcement. The SEC is committed to maintaining compliance and investor protection within the cryptocurrency sector. Description U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler voiced mixed reactions on Monday regarding a recent court decision about Ripple Labs Inc. Speaking at a National Press Club event in Washington DC, Gensler affirmed his approval of the ruling that institutional sales of Ripple’s tokens did breach federal securities laws, emphasizing the need for … Read more U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler voiced mixed reactions on Monday regarding a recent court decision about Ripple Labs Inc. Speaking at a National Press Club event in Washington DC, Gensler affirmed his approval of the ruling that institutional sales of Ripple’s tokens did breach federal securities laws, emphasizing the need for protecting investors at that level. Conversely, Gensler expressed disappointment over the part of the judgment that…

    Article 2023年7月18日

  • Nvidia unveils DGX GH200, supercharges AI development and gaming industry

    TL;DR Breakdown At the Computex event in Taiwan, Nvidia unveiled the DGX GH200, a state-of-the-art AI supercomputer. Alongside the DGX GH200, Nvidia announced Nvidia ACE for Games, a platform that will utilize AI to create game NPCs with more depth and personality. Using AI and metaverse technologies, Nvidia plans to partner with WPP to reduce advertising costs. Nvidia, a forerunner in developing artificial intelligence (AI) tools and applications, has disclosed ambitious plans to roll out an array of innovative AI products. During the Computex event in Taiwan on May 28, Nvidia’s CEO, Jensen Huang, introduced the DGX GH200, a state-of-the-art AI supercomputer designed to assist tech firms in creating advanced versions of the renowned AI chatbot, ChatGPT. Huang expects that leading tech companies such as Meta, Microsoft, and Google’s Alphabet will be among the early adopters of the new AI powerhouse. Alongside this announcement, Huang also revealed Nvidia ACE for Games, a service aimed at the gaming industry. This platform will harness AI to imbue game NPCs with more depth and personality. Nvidia also plans to join forces with communications…

    Article 2023年6月2日

  • Apple becomes first $3 trillion company as stock soars

    TL;DR Breakdown Apple becomes the first publicly traded company to reach a $3 trillion market value, with its shares climbing to a new high. The company’s stock has surged by nearly 46% this year, signaling a strong recovery from a challenging 2022. While competitors embrace AI, Apple focuses on its own strategy, posting stronger-than-expected quarterly earnings and preparing for a massive growth phase with upcoming product releases. Description In a historic milestone, Apple Inc. has become the first publicly traded company to achieve a market value of $3 trillion. The company’s shares surged by approximately 2.31% on Friday, reaching a new all-time high and solidifying its position as a global industry leader. This achievement comes after Apple initially touched the $3 trillion mark … Read more In a historic milestone, Apple Inc. has become the first publicly traded company to achieve a market value of $3 trillion. The company’s shares surged by approximately 2.31% on Friday, reaching a new all-time high and solidifying its position as a global industry leader. This achievement comes after Apple initially touched the $3 trillion…

    Article 2023年7月3日
TOP