U.S. District Judge Alvin K. Hellerstein has dismissed a lawsuit against Elon Musk and Tesla Inc., which accused them of manipulating the Dogecoin (CRYPTO: DOGE) market.
What Happened: A group of Dogecoin investors initiated a lawsuit against Musk and Tesla in 2022. The investors claimed that Musk had influenced the DOGE market through his public remarks.
The investors alleged that Musk was involved in a pump-and-dump scheme. However, Hellerstein ruled in favor of Musk’s legal team this week, effectively ending the legal dispute.
Hellerstein examined the specific quotes from Musk that were highlighted in the complaint. He expressed that he “failed to see” how Musk’s comments could be interpreted as market manipulation or a pump-and-dump scheme.
In a statement, Hellerstein said, “These paragraphs allege statements by …
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