Sources
Loading...
Additional media
Loading...

A judge has dismissed a lawsuit alleging that Elon Musk and Tesla engaged in an illegal 'pump and dump' scheme to inflate the price of Dogecoin. The court found the claims of market manipulation unsubstantiated, ruling that the statements made by Musk were mere 'puffery' rather than fraudulent misrepresentation. The decision reflects the court's stance that no legitimate investor would have been misled by the alleged hype, which the judge described as 'weak sauce.' This ruling underscores the legal threshold for proving market manipulation in cryptocurrency-related cases.