• Elon Musk’s lawyers are attempting to dismiss a Dogecoin (DOGE) lawsuit against the billionaire, claiming it is “frivolous”.
• The lawsuit was filed in June by a group of disgruntled Dogecoin investors who claim their losses were due to Musk manipulating the price of the digital asset.
• In July, lawyer Evan Spencer accused Musk and his legal counsel Alex Spiro of using “unlawful tactics” to discredit his clients and alleged that the billionaire was using his wealth as a “bottomless war chest” to fund a harassment campaign against them.
Elon Musk’s Lawyers Move To Dismiss Dogecoin (DOGE) Lawsuit
Elon Musk’s lawyers are attempting to dismiss a Dogecoin (DOGE) lawsuit against the billionaire, calling it “frivolous” and saying that there would be nothing wrong with promoting DOGE, which holds a market capitalization of over $11 billion. Furthermore, they say that the Plaintiffs’ complaint does not even state a legal claim.
Background Of The Lawsuit
The lawsuit was originally filed in June 2022 by a group of disgruntled Dogecoin investors who claim their losses were due to Musk manipulating the price of the digital asset. They claimed that he sold about $124 million worth of the meme asset after its price skyrocketed due to him at one point changing Twitter’s iconic blue bird logo to that of DOGE’s Shiba Inu.
Lawyer Evan Spencer Accuses Elon Musk Of Unlawful Tactics
In June 2023, lawyer Evan Spencer attempted to remove Alex Spiro, Elon Musk’s legal counsel, alleging that he leaked a private letter between them to the New York Post. Last month, Spencer accused both Musk and Spiro of using “unlawful tactics” to discredit his clients and also alleged that the billionaire was using his wealth as a “bottomless war chest” to fund a harassment campaign against them.
Elon Musk Denies Ever Owning A Dogecoin Wallet
Elon Musk denied ever owning a Dogecoin wallet after Plaintiffs made this allegation earlier this year when filing their lawsuit against him in June 2022. He believes that this case should be dismissed without prejudice as it is based solely around memes posted by him on Twitter.
Conclusion
Although only time will tell whether or not Elon Musk will succeed in having this lawsuit dismissed without prejudice or not, what we do know for sure is that no matter how silly some may find his tweets about cryptocurrencies like DOGE – there is nothing unlawful about tweeting words of support for an asset with such high market capitalization!
