The legal professionals of Elon Musk are transferring to dismiss the Dogecoin (DOGE) lawsuit towards the billionaire, calling the swimsuit “frivolous.”
In a brand new court docket filing, the enterprise magnate’s attorneys say that “sufficient is sufficient” – that the case towards Musk ought to be “dismissed with out prejudice” because the Plaintiffs’ case is centered solely round memes posted by the Tesla CEO.
Moreover, the legal professionals say that there wouldn’t be something mistaken with selling DOGE, a memecoin with a market cap of over $11 billion and that the Plaintiffs’ grievance doesn’t even state a authorized declare.
“Sufficient is sufficient. It’s nicely previous time for this baseless and frivolous motion to be dismissed with prejudice.
Plaintiffs’ fourth try to plead a grievance for securities fraud towards Defendants Tesla, Inc. and Elon Musk – based mostly on nothing greater than Mr. Musk’s innocuous and sometimes foolish tweets a few cryptocurrency known as “Dogecoin” (identified for its meme picture of a Shibu Inu canine) – comes no nearer to stating a declare than Plaintiffs’ three prior makes an attempt.
There’s nothing illegal about tweeting phrases of assist for, or humorous photos about, a cryptocurrency that holds a market capitalization of over $11 billion. Plaintiffs’ fanciful, meandering, and sometimes incomprehensible third amended class motion grievance doesn’t come near stating a declare.”
Musk was initially sued in June 2022 by a bunch of disgruntled Dogecoin traders who declare their losses have been because of the billionaire manipulating the worth of the digital asset.
In June of 2023, Musk denied ever proudly owning a Dogecoin pockets after the Plaintiffs made a declare that he offered about $124 million value of the meme asset after its value skyrocketed because of Musk on the time altering briefly altering Twitter’s iconic blue chook emblem to that of DOGE’s Shiba Inu.
Later that month, Evan Spencer, the lawyer representing the plaintiffs, tried to take away Alex Spiro, Musk’s authorized counsel, alleging that he leaked a personal letter between them to the New York Submit. The contents of the letter included Spiro attacking Spencer’s credibility as an lawyer.
Final month, Spencer accused Musk and Spiro of utilizing “illegal ways” to discredit his purchasers and in addition alleged that the billionaire was utilizing his wealth as a “bottomless warfare chest” to fund a harassment marketing campaign towards them.
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Featured Picture: Shutterstock/NextMarsMedia
