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  • Writer's pictureSarah Dixon

Elon Musk's legal team seeks dismissal of Dogecoin case.

Elon Musk's legal team seeks dismissal of Dogecoin case.
Elon Musk's legal team seeks dismissal of Dogecoin case.

Elon Musk's attorneys argued that the legal dispute between the billionaire and a group of dissatisfied Dogecoin supporters has been prolonged. They have formally requested the plaintiff's revised complaint to be dismissed in a submission to a federal court in New York.

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Echoing this motion, Alex Shapiro, the attorney representing Elon Musk, vehemently criticized the most recent complaint put forth by the Dogecoin investors, characterizing it as a case in point of “abusive and belligerent litigation tactics” employed by the opposing side.

“Enough is enough,” Shapiro wrote. “This action is yet another example of counsel’s abusive and belligerent litigation tactics.”

Elon Musk's legal team seeks dismissal of Dogecoin case. Elon Musk Faces Lawsuit Over Dogecoin

A legal battle was launched last June with a demand for $258 billion in restitution, alleging that Musk engaged in a series of actions such as showmanship, market manipulation, and insider trading within the domain of one of cryptocurrency's most iconic meme coins. Dogecoin experienced a rapid surge in value in 2021 prior to Musk's appearance on NBC's "Saturday Night Live," but the cryptocurrency's value plummeted after Musk referred to it as a mere scheme during the comedic show. Musk's legal team contends that any positive remarks he has made about Dogecoin over the years are simply enthusiastic expressions and do not warrant legal action. Elon Musk's legal team seeks dismissal of Dogecoin case.

DOGE market cap currently at $10.6 billion. Chart:
DOGE market cap currently at $10.6 billion. Chart:

Elon Musk's legal representatives recently filed a motion stating that expressing support for a cryptocurrency and sharing humorous images related to it is completely legal. The motion criticized the amended complaint, calling it "fanciful, meandering, and often incomprehensible."

Musk's lawyers further emphasized that the claims made in the lawsuit lack credibility due to their reliance on transactions involving Dogecoin from digital wallets that cannot be verifiably linked to Musk or his company, Tesla.

Elon Musk’s Enthusiasm For The Meme Coin

Elon Musk has been a vocal supporter of Dogecoin for several years. In April 2019, he tweeted that Dogecoin was his preferred cryptocurrency, and his support has only grown since he acquired Twitter. One notable example of his enthusiasm for Dogecoin was when Twitter temporarily replaced its logo with the Shiba Inu mascot of Dogecoin on April Fools Day, sparking interest in the cryptocurrency. Musk's ongoing interactions with Dogecoin have been a fascinating part of its journey.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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