{"id":570852,"date":"2024-08-30T06:17:16","date_gmt":"2024-08-30T06:17:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=570852"},"modified":"2024-08-30T06:17:16","modified_gmt":"2024-08-30T06:17:16","slug":"tesla-ceo-elon-musk-beats-dogecoin-manipulation-lawsuit","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/tesla-ceo-elon-musk-beats-dogecoin-manipulation-lawsuit","title":{"rendered":"Tesla CEO Elon Musk Beats Dogecoin Manipulation Lawsuit"},"content":{"rendered":"
Tech billionaire and Tesla CEO Elon Musk has won the dismissal of a lawsuit that accused him and his electric automotive company of manipulating the price of Dogecoin, resulting in $258 billion in damages.<\/span><\/p>\n Judge Alvin Hellerstein tossed the lawsuit in an Aug. 29 <\/span>decision<\/span><\/a> in the US District Court for the Southern District of New York.<\/span><\/p>\n Several “material misrepresentations” were made regarding Musk’s tweets, according to Judge Hellerstein. In some of the posts mentioned in the case, Musk said that he would become the president of <\/span>Dogecoin<\/span><\/a> and would send a “literal” Dogecoin to the moon in a SpaceX vehicle.<\/span><\/p>\n “These statements are aspirational and puffery, not factual, and susceptible to being falsified,” said Judge Hellerstein. “No reasonable investor could rely upon them” for sound investment advice, Judge Hellerstein added.<\/span><\/p>\n JUST IN: Elon Musk wins dismissal of lawsuit claiming he had rigged Dogecoin and conducted insider trading pic.twitter.com\/gET5lOPQIX<\/a><\/p>\n — wallstreetbets (@wallstreetbets) August 29, 2024<\/a><\/p><\/blockquote>\n<\/p>\n
Judge Says No “Reasonable” Investor Would Interpret Tweets By Elon Musk As Sound Investment Advice<\/span><\/h2>\n
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