Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report
The plaintiff's brought up Musk’s Saturday Night Live appearance in 2021, where he portrayed "a fictitious financial expert" and called Dogecoin “a hustle,” resulting in a steep price decline minutes later. Elon Musk and his lawyers reportedly requested a United States judge this week to dismiss the $258 billion lawsuit filed by investors who alleged that he operated a pyramid scheme to promote the cryptocurrency Dogecoin (DOGE). According to an April 1 Reuters report, Elon Musk's lawyers stated that the lawsuit against Musk – which was filed by Dogecoin investors in June 2022 – a “fanciful work of fiction," in Manhattan's federal court on March 31. Musk's lawyers explained that his support shown for Dogecoin on social media – including comments such as “Dogecoin Rulz” and “no highs, no lows, only Doge” – was “too vague” to warrant a fraud claim. The lawyers noted: “There is nothing unlawful about tweeting words of support for, or funny pictures about, a...