Updated: August 30, 2024 3:06 AM EDT
Elon Musk and his electric car company Tesla have won a class action lawsuit. In 2022, he filed a lawsuit against Musk, claiming that his comments were fabricated. Dogecoin viceroy
-0.15%
U.S. District Judge Alvin Hellerstein be rejected A lawsuit with prejudice filed on Thursday was permanently dismissed.
In June 2022, investors sued Musk and his company, claiming that they were defrauded by a series of tweets and other Dogecoin-related activities. The investors alleged that Musk’s statements (including his claim that he had agreed to become CEO of Dogecoin and his suggestion that SpaceX put Dogecoin on the moon) were misleading.
A group of investors has filed a lawsuit on their behalf against Musk and his companies, Tesla and SpaceX, in the Southern District of New York.
“These statements are aspirational and boastful statements, not factual, and subject to falsification,” Judge Hellerstein wrote in his order, adding that no reasonable investor could rely on them.
The judge also said he was “incomprehensible” to the arguments the plaintiffs used to conclude that Musk and Tesla engaged in market manipulation, engaged in a “pump and dump” scheme, and engaged in insider trading and breached their fiduciary duties.
Dogecoin, the 9th largest cryptocurrency by market capitalization, Down 1.2% It has been trading around $0.1 over the last 24 hours. It currently has a market cap of $14.6 billion.
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