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International Business Times
International Business Times
Business
Marvie Basilan

Dismissed: Elon Musk Wins Lawsuit Over $DOGE 'Pump And Dump' Scheme

Elon Musk Lawsuit United States Tesla Inc. Alvin Hellerstein Dogecoin Donald Trump Bitcoin Crypto
A judge dismissed the lawsuit accusing Musk of manipulating DOGE prices. (Credit: AFP)

KEY POINTS

  • The plaintiffs initially sought $258 billion in damages over the alleged price manipulation scheme
  • Judge Hellerstein said investors shouldn't have relied on Musk's "aspirational and puffery" sentiments on DOGE
  • Musk has been a fan of the world's top memecoin by market value for years

Tech mogul Elon Musk has faced multiple lawsuits in the past years, and among the most-followed legal battles the SpaceX founder faced is one that accused him of manipulating the price of Dogecoin (DOGE), the largest memecoin by market cap.

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