Tesla CEO Elon Musk Beats Dogecoin Manipulation Lawsuit
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. Judge Alvin Hellerstein tossed the lawsuit in an Aug. 29 decision in the US District Court for the Southern District of New York. Judge Says No “Reasonable” Investor Would Interpret Tweets By Elon Musk As Sound Investment Advice 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 Dogecoin and would send a “literal” Dogecoin to the moon in a SpaceX vehicle. “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 add...