Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

Elon Musk and his lawyers reportedly requested a United States justice to disregard the $258 cardinal suit filed by investors who alleged that helium operated a pyramid strategy to beforehand the cryptocurrency Dogecoin (DOGE).

According to an April 1 Reuters report, Elon Musk's lawyers referred to the lawsuit, filed by Dogecoin investors, a “fanciful enactment of fiction,” successful Manhattan's national tribunal connected March 31.

It was reported that Musk's lawyers referred to his Dogecoin statements arsenic “innocuous and often silly tweets," successful an effort to person the justice to "throw out" the $258 cardinal lawsuit.

Musk's lawyers explained that his Dogecoin-related statements – including “Dogecoin Rulz” and “no highs, nary lows, lone Doge” – were “too vague” to warrant a fraud claim. The lawyers noted:

“There is thing unlawful astir tweeting words of enactment for, oregon comic pictures about, a morganatic cryptocurrency that continues to clasp a marketplace headdress of astir $10 billion.”

Investors cited Musk’s Saturday Night Live quality wherever helium portrayed "a fictitious fiscal expert," calling Dogecoin “a hustle,” arsenic a notation constituent successful the lawsuit.

— DogeDesigner (@cb_doge) March 15, 2023

The lawyer representing the investors, Evan Spencer, reportedly stated successful an email that "we are much assured than ever that our lawsuit volition beryllium successful."

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.