The long-running legal dispute between Elon Musk and Dogecoin investors has ended as the investors withdrew their appeal.
Investors' Initial Lawsuit
A group of investors accused Elon Musk and his company Tesla of manipulating Dogecoin prices, demanding $258 billion in damages. They claimed Musk used his public statements and 'Saturday Night Live' appearance for personal gain.
Court Decision and Appeal
Judge Hellerstein dismissed the case in August, stating that Musk's tweets weren't enough evidence of fraud. He also noted that Musk's claims about Dogecoin as the 'currency of the future' weren't to be taken seriously. The investors attempted to appeal the decision and even requested sanctions against Musk's legal team.
Conclusion of the Legal Process
On November 14, the investors withdrew their appeal and dropped their request to punish Musk's lawyers. Both parties filed to end the case, which still requires approval from Judge Alvin Hellerstein in Manhattan.
The legal case between Elon Musk and a group of Dogecoin investors has concluded after the latter withdrew their appeal. A final court decision is still pending.
