DeFi Daily News
Thursday, October 16, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Altcoins

rewrite this title Dogecoin and Elon Musk: Price Manipulation Lawsuit Ends

Jared Kirui by Jared Kirui
November 15, 2024
in Altcoins
0 0
0
rewrite this title Dogecoin and Elon Musk: Price Manipulation Lawsuit Ends
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

After a two-year legal battle involving claims of
fraud, a lawsuit accusing Elon Musk and Tesla of manipulating meme
cryptocurrency dogecoin (DOGE) is ending.

Investors who brought the case, alleging that Musk was
causing the cryptocurrency’s price swings through tweets and public stunts, have
now withdrawn their appeal, Reuters reported. This follows a court dismissal in
August. This decision left both parties without sanctions, or the huge payout investors initially sought.

Investors Withdraw Legal Appeal

The lawsuit, initiated by Dogecoin investors, accused Musk and his electric car company, Tesla, of fraud and insider trading and sought a whopping $258 billion in damages. Investors argued that Musk manipulated dogecoin’s
market value through social media posts, including his frequent tweets and his
appearance on NBC’s Saturday Night Live.

They claimed that Musk timed his trades to benefit
from his own public statements, causing significant losses for other investors.
However, after U.S. District Judge Alvin Hellerstein dismissed the case on
August 29, investors decided to withdraw their appeal.

The judge had reportedly ruled that reasonable
investors could not base a securities fraud claim on Musk’s tweets, including
his infamous declaration that Dogecoin could become the future currency of
Earth. Following this, both sides agreed to drop their
respective motions for sanctions against the opposing legal teams.

I will keep supporting Dogecoin

— Elon Musk (@elonmusk) June 19, 2022

In an unusual twist, the case ended with neither side
securing sanctions. Investors had accused Musk’s legal team of obstructing the
appeal process and demanding excessive legal fees.

No Sanctions

Meanwhile, Musk and Tesla sought sanctions against the
investors’ lawyer, arguing that the lawsuit was based on ever-changing legal
theories meant to extract a quick settlement. Both motions were withdrawn in a stipulation filed in
Manhattan federal court, which still requires Judge Hellerstein’s approval.

The lawsuit had undergone multiple revisions since it
was first filed, with investors amending their complaint four times in two
years. Ultimately, the court found that the claims did not hold enough legal
weight to move forward, leading to the dismissal.

In June, a group of investors brought a class action
accusing the Tesla boss of influencing the price of Dogecoin for his own
benefit. Specifically, they accused the billionaire of pumping the price of the
meme coin by over 36,000% over two years and letting it crash.

However, the billionaire refuted the claims, vowing to
continue supporting the token. In a specific instance, the world’s richest man
briefly replaced Twitter’s previous blue bird logo with Dogecoin’s Shiba Inu
logo for a few days.

This article was written by Jared Kirui at www.financemagnates.com. and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: DogecoinElonendslawsuitMANIPULATIONMuskPricerewritetitle
ShareTweetShare
Previous Post

This Is Why Ohio State Tailgates Are The Best In The Country | Tailgaming Season 2 Ep. 3

Next Post

Trump’s Dept. of Govt. Efficiency, deficit: Explained

Next Post
Trump’s Dept. of Govt. Efficiency, deficit: Explained

Trump’s Dept. of Govt. Efficiency, deficit: Explained

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Why Outlet Malls Are Struggling In The U.S.

Why Outlet Malls Are Struggling In The U.S.

July 16, 2024
rewrite this title Soulframe Joineries and reforging guide

rewrite this title Soulframe Joineries and reforging guide

July 28, 2025
Live Coverage of Triathlon Decision at Olympics 2024 as Beth Potter and Alex Yee Compete for Gold

Live Coverage of Triathlon Decision at Olympics 2024 as Beth Potter and Alex Yee Compete for Gold

July 31, 2024
rewrite this title Repair from Millions of Kilometers Away: How NASA Keeps the Mars Rovers Alive

rewrite this title Repair from Millions of Kilometers Away: How NASA Keeps the Mars Rovers Alive

September 29, 2025
Use rhino.fi to make payments with cryptocurrency and maintain your anonymity

Use rhino.fi to make payments with cryptocurrency and maintain your anonymity

August 14, 2024
rewrite this title Berkshire Hathaway to buy Occidental’s OxyChem for .7 billion, in Buffett’s biggest deal in three years

rewrite this title Berkshire Hathaway to buy Occidental’s OxyChem for $9.7 billion, in Buffett’s biggest deal in three years

October 2, 2025
rewrite this title Bitcoin Buy Signal: Why The 200-Week Moving Average Has Been A Flawless Entry Point

rewrite this title Bitcoin Buy Signal: Why The 200-Week Moving Average Has Been A Flawless Entry Point

October 16, 2025
rewrite this title Insider questions Kyler Murray’s future with Cardinals

rewrite this title Insider questions Kyler Murray’s future with Cardinals

October 16, 2025
rewrite this title Nasdaq-Listed Zeta Network Raises 1M via Bitcoin-Backed Private Placement – Decrypt

rewrite this title Nasdaq-Listed Zeta Network Raises $231M via Bitcoin-Backed Private Placement – Decrypt

October 16, 2025
rewrite this title with good SEO The XRP Price Roadmap To : How An Over 50% Bounce Could Materialize

rewrite this title with good SEO The XRP Price Roadmap To $8: How An Over 50% Bounce Could Materialize

October 16, 2025
rewrite this title Argentum AI: The Marketplace for Compute Power

rewrite this title Argentum AI: The Marketplace for Compute Power

October 16, 2025
rewrite this title 4 Science-Backed Habits That Could Help You Live Longer

rewrite this title 4 Science-Backed Habits That Could Help You Live Longer

October 16, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.