Elon Musk Again Asks To Stop The Class Action Lawsuit Over Dogecoin Insider Trading

August 9, 2023 - Around 2 mins mins to read

Key Points:

Lawyers for billionaire Elon Musk have once again filed a request to dismiss the class action lawsuit over Dogecoin insider trading.
Shapiro lashed out at the latest complaint from Dogecoin investors, calling the action another example of lawyers abusing their power and litigation tactics.
Reportedly, Evan Spencer, the lead attorney for the class action lawsuit against Musk, revised the case for the third time in June and made more allegations.

According to Decrypt, a document filed in New York Federal Court, attorney Alex Shapiro of Tesla CEO Elon Musk has requested the dismissal of the class action lawsuit over Dogecoin insider trading.

Elon Musk Again Asks To Stop The Class Action Lawsuit Over Dogecoin Insider Trading

Shapiro lashed out at the latest complaint from Dogecoin investors, calling the action another example of lawyers abusing their power and litigation tactics.

In the latest motion, Shapiro said there is nothing illegal about tweeting pro-crypto statements or humorous images, and he mocked the plaintiff’s revised complaint as “weird” clumsy, tortuous, and difficult to understand”.

Reportedly, Evan Spencer, the lead attorney for the class action lawsuit against Musk, revised the lawsuit for the third time in June and made more allegations. The lawsuit, originally filed last June, seeking $258 billion in damages, accuses Musk of “deliberate marketing, market manipulation, and insider trading” when discussing Dogecoin.

But Elon Musk really downplays the Dogecoin-related lawsuits because since the lawsuit appeared, this billionaire still has shares related to memecoin. The most recent is a tweet on July 19 with a meme with the views of the philosopher Socrates, Immanuel Kant and an image of the famous cartoon character Scooby-Doo.

Elon Musk’s enthusiasm for Dogecoin has been well-documented for years since his first Tweet that Dogecoin could be his favorite cryptocurrency in April 2019

In the history of Dogecoin development, Musk is one of the indispensable factors because he has publicly supported this coin many times. After each of his tweets, Dogecoin always recorded impressive gains, making meme coins even more FOMO.

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