$MASKS

Court Rejects Dogecoin Manipulation Claims Against Elon Musk

In a major legal victory for Elon Musk, a US court has dismissed a class-action lawsuit that accused him of manipulating the price of Dogecoin. The plaintiffs had claimed that Musk's public statements about Dogecoin constituted market manipulation, insider trading, or a "pump and dump" scheme.

However, the judge found that the evidence presented by the plaintiffs did not support these allegations. The court ruled that Musk's statements about Dogecoin were more aspirational and promotional than fraudulent.

The dismissal of the lawsuit did not have a significant impact on Dogecoin's price at the time of the decision. This case highlights the ongoing legal complexities surrounding public figures' statements about cryptocurrencies.