Elon Musk And Tesla Triumph In Dogecoin Insider Trading Lawsuit, Judge Says Investors Can't Rely On Tweets To Pursue Securities Fraud Claim
Portfolio Pulse from Aniket Verma
Elon Musk and Tesla have successfully dismissed a lawsuit accusing them of insider trading and manipulating Dogecoin. A judge ruled that investors cannot rely on Musk's tweets for securities fraud claims.
August 30, 2024 | 3:02 am
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Tesla and Elon Musk have won a lawsuit dismissing claims of insider trading and market manipulation related to Dogecoin. The judge ruled that tweets cannot be used to pursue securities fraud claims.
The dismissal of the lawsuit removes a legal overhang for Tesla, potentially boosting investor confidence. The ruling suggests that Musk's tweets are not grounds for securities fraud, which may positively impact Tesla's stock price.
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