Elon Musk’s legal battle with a group of disgruntled Dogecoin (DOGE) investors has taken a new turn as Musk’s lawyers have requested the dismissal of the case due to its prolonged duration. Musk is facing a lawsuit that includes allegations of market manipulation, insider trading, and intentional actions related to Dogecoin.
In response, Musk’s lawyer, Alex Shapiro, harshly criticized the tactics of the opposing party, describing the lawsuit as “malicious and combative.” The request for dismissal of the case has been submitted to the New York federal court.
Whispers of Manipulation in Elon Musk’s Case
The lawsuit, initially filed in June of the previous year, originally demanded an astonishing $258 billion in damages. It accuses Elon Musk of orchestrating intentional actions plans related to market manipulation, insider trading, and the cryptocurrency Dogecoin.
Although the lawsuit initially sought a massive amount of compensation, the underlying allegations are quite serious. They claim that Musk’s actions surrounding Dogecoin were deliberate moves that could impact the cryptocurrency market.
To support the dismissal of the case, Musk’s lawyer, Alex Shapiro, did not mince words in criticizing the opposing party’s complaint, describing it as an example of “abusive and combative litigation tactics.”
Shapiro added the following to his statement:
Enough is enough.
The plaintiffs’ lead attorney, Evan Spencer, introduced additional allegations by amending the complaint for the third time in June.
Elon Musk and the History of Dogecoin
Musk’s affinity for Dogecoin dates back to a tweet from April 2019, where he claimed it to be his favorite cryptocurrency. With the acquisition of Twitter, his vocal support for Dogecoin further strengthened. A notable example of this support occurred on April Fool’s Day, when he temporarily changed Twitter’s logo to a Shiba Inu dog, the mascot of Dogecoin.
The request for dismissal of the case reflects a contentious point in the legal battle, with Musk’s legal team characterizing the opposing party’s tactics as “vulgar and combative,” highlighting the intensity of the conflict. As the legal process continues, both sides await the outcome. At the time of writing, Dogecoin was trading at $0.07573, with a 2.32% increase in the last 24 hours.
