Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
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.
Wrote about Musk case as it turns on my favorite legal word: puffery It's from an 1892 case about a quack cure that promised to stop the flu. Court found £100 guarantee was not a "mere puff" Lucky for Musk, judge found Dogecoin claims WERE just a puff https://t.co/AwXTyl13cK
The lawsuit claimed Musk and his company Tesla had run an illegal “pump and dump” scheme to inflate the price of Dogecoin. https://t.co/F1KAwQt3hX
There are no retail $TSLA investors left who aren't either morons or Musk cult members, and as I assume this scumbag judge isn't a moron, he must be a Musk cult member. Thus, even if he lets Musk win, this absurd case will be dismissed on appeal. https://t.co/YO8BMvNJ42