Attorneys for Elon Musk contended at the beginning of the week that the prolonged authorized feud between the billionaire and a faction of dissatisfied Dogecoin backers has endured excessively.
In a submission to a federal courtroom in New York, Musk’s authorized crew formally requested the elimination of the plaintiff’s revised grievance.
Echoing this movement, Alex Shapiro, the legal professional representing Elon Musk, vehemently criticized the newest grievance put forth by the Dogecoin buyers, characterizing it as a living proof of “abusive and belligerent litigation techniques” employed by the opposing facet.
“Sufficient is sufficient,” Shapiro wrote. “This motion is yet one more instance of counsel’s abusive and belligerent litigation techniques.”
Elon Musk Faces Lawsuit Over Dogecoin
The authorized battle, which was initially launched final June with a requirement for a whopping $258 billion in restitution, alleges that Musk engaged in a calculated collection of actions akin to showmanship, market manipulation, and insider buying and selling throughout the area of certainly one of cryptocurrency’s most iconic meme cash.
For context, Dogecoin skilled a fast surge in worth in 2021 previous to Musk’s look on NBC’s “Saturday Night time Dwell.” Nonetheless, the cryptocurrency’s worth plummeted after Musk referred to it as a mere scheme through the comedic present.
However, his authorized crew contends that any optimistic remarks he has made about Dogecoin over time are merely enthusiastic expressions and don’t warrant authorized motion.
DOGE market cap at the moment at $10.6 billion. Chart: TradingView.com
In a latest authorized movement submitted on Monday, Musk’s authorized representatives asserted that expressing assist for a cryptocurrency or sharing humorous pictures associated to it’s totally lawful. The movement ridiculed the amended grievance, labeling it as “fanciful, meandering, and infrequently incomprehensible.”
The legal professionals of Elon Musk additional emphasised that the claims introduced within the lawsuit lack credibility due to their reliance on transactions involving Dogecoin from digital wallets that can’t be verifiably linked to Musk or his firm, Tesla.
Elon Musk’s Enthusiasm For The Meme Coin
All through the years, Musk’s unwavering assist for Dogecoin has been extensively recorded, commencing together with his inaugural tweet in April 2019, the place he proclaimed that Dogecoin would possibly simply be his most popular cryptocurrency.
Subsequent to his acquisition of Twitter, Musk’s backing for Dogecoin has garnered much more traction. One significantly well-publicized occasion of this fervor unfolded round April Fools Day, throughout which Twitter playfully substituted its emblem with Dogecoin’s Shiba Inu mascot, making a buzz across the cryptocurrency.
From his preliminary tweet in 2019 to the Twitter brand swap in 2023, Musk’s interactions with Dogecoin have remained an enchanting facet of the cryptocurrency’s journey.
Featured picture from California Enterprise Journal
