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News Link • Lawsuits
Judge Dismisses Lawsuit Against Elon Musk Over Dogecoin Market Manipulation Claims
• WhatfingerThe judge concluded that no reasonable investor could have relied on Musk's tweets for investment decisions, and thus, the claims of securities fraud were unfounded Teslarati and Yahoo Finance Canada and Cointelegraph
On Thursday, a U.S. federal judge ruled to dismiss a class action lawsuit that accused Elon Musk and Tesla of manipulating the market through enthusiastic public endorsements of Dogecoin. The plaintiffs, representing investors who alleged financial losses from Musk's social media comments over recent years, had initially sought $86 billion in damages. This amount could have tripled to $258 billion with additional claims.