Elon Musk's Lawyer Seeks Dismissal of 'Abusive' Dogecoin Lawsuit, Says 'Enough Is Enough'
Portfolio Pulse from Mehab Qureshi
Elon Musk's attorneys have filed a motion to dismiss a lawsuit brought by a group of Dogecoin investors, arguing that the litigation has dragged on for too long. The lawsuit, which initially sought $258 billion in damages, accuses Musk of market manipulation, insider trading, and deliberate actions related to Dogecoin. Musk's support for Dogecoin has been well-documented, particularly since his acquisition of Twitter.
August 09, 2023 | 4:45 am
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NEUTRAL IMPACT
The ongoing lawsuit against Elon Musk could potentially impact the price of Dogecoin. The dismissal of the lawsuit could remove a source of uncertainty and potentially have a positive effect on Dogecoin's price.
The lawsuit against Elon Musk is directly related to Dogecoin, and its outcome could influence investor sentiment towards the cryptocurrency. If the lawsuit is dismissed, it could remove a source of uncertainty and potentially have a positive effect on Dogecoin's price. However, the impact is uncertain and will depend on the market's reaction to the news.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 100