{"id":41434,"date":"2024-11-15T16:59:10","date_gmt":"2024-11-15T16:59:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/investors-withdraw-appeal-in-dogecoin-lawsuit-against-elon-musk\/"},"modified":"2024-11-15T16:59:10","modified_gmt":"2024-11-15T16:59:10","slug":"investors-withdraw-appeal-in-dogecoin-lawsuit-against-elon-musk","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/investors-withdraw-appeal-in-dogecoin-lawsuit-against-elon-musk\/","title":{"rendered":"Investors withdraw appeal in Dogecoin lawsuit against Elon Musk"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/11\/Investors-withdraw-appeal-in-Dogecoin-lawsuit-against-Elon-Musk-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/11\/Investors-withdraw-appeal-in-Dogecoin-lawsuit-against-Elon-Musk-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/11\/Investors-withdraw-appeal-in-Dogecoin-lawsuit-against-Elon-Musk-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/11\/Investors-withdraw-appeal-in-Dogecoin-lawsuit-against-Elon-Musk-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Plaintiffs have dropped their appeal in the Dogecoin lawsuit against Elon Musk.<\/li>\n<li>Judge Hellerstein in August ruled Musk\u2019s public statements weren\u2019t grounds for fraud claims.<\/li>\n<li>Both parties have withdrawn motions for sanctions.<\/li>\n<\/ul>\n<p>Investors who had sued Elon Musk and his company Tesla for manipulating the cryptocurrency <a href=\"https:\/\/coinjournal.net\/dogecoin\/what-is-dogecoin\/\">Dogecoin (DOGE)<\/a> have withdrawn their appeal.<\/p>\n<p>This development marks the conclusion of a case that originally sought $258 billion in damages and centred on allegations of fraud and insider trading.<\/p>\n<h2>The Dogecoin lawsuit was dismissed in August<\/h2>\n<p>The lawsuit, filed by Dogecoin investors, claimed that Musk had used his influential public platform to artificially inflate the price of Dogecoin for personal gain. The investors pointed to his tweets, public appearances, and even an appearance on NBC\u2019s \u201cSaturday Night Live\u201d as evidence of a pattern of market manipulation.<\/p>\n<p>The investors argued that these activities were timed to boost Dogecoin\u2019s value, allowing Musk to profit at their expense.<\/p>\n<p>However, on August 29, US District Judge Alvin Hellerstein <a href=\"https:\/\/assets2.pacermonitor.com\/filings\/Johnson_v_Musk_et_al\/Johnson_v_Musk_et_al__nysdce-22-05037__0113.0.pdf?X-Amz-Security-Token=IQoJb3JpZ2luX2VjEDcaCXVzLWVhc3QtMSJHMEUCIQC6qBmA9qFq18ZzXkAqLP5l4QMgpnGZjyxWX7ZqBtzQKwIgP%2BzYtes9VFXefOF8uEWtduqMQzmJUlDgtFuZPlGGO7UqsQUITxAEGgw5MjQ2NTE0MDgzOTgiDF79x1t7vshXTSo7eCqOBZF2ykxKk6tpY5viwCUbJB1wJaXtpJrx4KcYmuhrkPrQMkCBsm%2FPcnC5xEKnYaYHfQ8ABxud9oTARklHsoHMcwJnjOL2O0bV3sVjv000tNw3awaJJ9FfVxnjVRrv0WtSrV8OHjRopQf5Ll4JsXkvQD7%2BK5nlusWuYARLAMOLm00z5h1uj4m2wGbibIoxN7shkGcSZUDyZlp6OFcu7%2B8Zc3wsaU1vC%2Fsi%2FvGhqD45Ep%2FwKxP2lsv20mlTBmOGqIbc9%2FbJdkXJvCSV%2BFxH1%2Bkeep6dqjPf2OudiC6poItyltMEfMCtL0n7SZBe%2B2Xkr7LgZlDUR4u%2BcrptJvRBJs%2BG23OoT7BzlVzCCEy6wYVZsIb2KgltmJCGLTqoQkqDuV6c2Dz%2BpXemtx3GV3rFesOG9ReMJ%2BtDvK7uMtDO7JTAMbdJqf8a8tFccOZZMnBgaFpJaHdnknEQwsRlQjWdm7As3VCa7XI9oQeNyAgjkqvBpabK3ZJcs%2B%2Fek%2BoBgpLAhwSsNuYU1QLRxVx0CdbmoJW20D2uZgWuo4yvj6b9va9N8npzID2eJqUuyacOsxgmHc5Wg8TJzpHy92KhisAIfT1CFHY19k%2FNEs788FLEwllkaJw2ig%2F2qPlKQDhp1dkQwDdSyD4oWcGz52Jy4CHSEp0Eyo2fy4jq%2BQ0QsT6JMd0Qn8nvMsBOFrpiV7rThtFkfWlagN4pT4rusyggxl8K0BpiqfD5xlAoG%2FHreeI%2B3N196%2BCvfLZ%2FiI49uqmqqsg6u%2FTOPUyBlqZCcUhDY5qeQ0olLYVMxmKO%2Ffh%2BB4TruZ7slj4T7SACH3BJRyH5r375kqq0xDEWCTxRCs%2BEzaQowQyzRRNnFFLTmn0cgJunOvqU4TD048O2BjqxAVBFVa1waJRuP6Gj76Fk5Mge0G8hq1%2FZtu7jWMmK2rvT8PjvoOs8J2cSI3ncKdDRQ4p3C2odMS4HkN7%2FZq6LE7f%2B1KtEF0dR%2FSssHNmy3dX0Zf%2FPadRy3uhx6KPhkW7Th3sTKx1QZ6YFthJnnunym2nTXlo2aIOcaK0Jb2L2MnGOs0osmXITKdVa5ACfesvGWpdXU%2FBXXzGxF75%2FdebFYqtm%2F6aVNYRmIUaUBmw3k8vltA%3D%3D&amp;X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Date=20240829T235834Z&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Expires=599&amp;X-Amz-Credential=ASIA5OSMEZQHODUGHYCD%2F20240829%2Fus-east-1%2Fs3%2Faws4_request&amp;X-Amz-Signature=0a3095e249b95a53412114377a9024e4e14bcb62501ebedda00059ca9f488019\">dismissed the case<\/a>, stating that reasonable investors could not establish claims of securities fraud based solely on Musk\u2019s public statements.<\/p>\n<p>The judge reasoned that comments such as Musk\u2019s assertion that Dogecoin was the \u201cfuture currency of Earth\u201d or could be \u201cfloated to the moon\u201d by SpaceX were not credible grounds for claims of insider trading or fraud.<\/p>\n<p>Following the dismissal, the investors filed an appeal and sought sanctions against Musk\u2019s legal team, accusing them of misconduct. In response, Musk and Tesla filed their own motion to sanction the investors\u2019 lawyers for pursuing what they labelled as a \u201cfrivolous\u201d and constantly shifting lawsuit.<\/p>\n<h2>Appeal withdrawn, awaiting court approval<\/h2>\n<p>This week, both parties agreed to withdraw their respective motions and filed a stipulation to dismiss the case in Manhattan federal court. The withdrawal also included the investors\u2019 request to drop sanctions against Musk\u2019s lawyers.<\/p>\n<p>The final resolution of the case now awaits formal approval by Judge Hellerstein.<\/p>\n<p>This lawsuit\u2019s end comes as Musk continues to wield considerable influence over the cryptocurrency world, which has seen volatility sparked by Donald Trump\u2019s reelection as the 47<sup>th<\/sup> US president.<\/p>\n<p>Musk, who acquired Twitter in 2022 and rebranded it as X, has often been at the centre of both support and controversy surrounding cryptocurrencies, notably Dogecoin.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/investors-withdraw-appeal-in-dogecoin-lawsuit-against-elon-musk\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Plaintiffs have dropped their appeal in the Dogecoin lawsuit against Elon Musk. Judge Hellerstein in August ruled Musk\u2019s public statements weren\u2019t grounds for fraud claims. Both parties have withdrawn motions for sanctions. Investors who had sued Elon Musk and his company [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":41435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41434"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=41434"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/41435"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=41434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=41434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=41434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}