NRL player Trevor Lawrence and YouTubers Kevin Paffrath and Tom Nash have reportedly opted to settle with investors who alleged they were misled by their FTX promotions.
Elon Musk’s Lawyer Files Second Motion To Dismiss Dogecoin Class Action Lawsuit
In a continued legal battle over a class action lawsuit alleging Dogecoin insider trading, attorney Alex Shapiro, representing Tesla CEO Elon Musk, has once again requested the dismissal of the case.
This motion marks the second attempt by Musk’s legal team to put an end to the ongoing litigation, and as the legal battle escalates, drawing attention to the intricate interplay between cryptocurrency, high-profile figures, and legal accountability.
Strategic Move Amid Escalating Battle
The decision to file a second motion for dismissal underscores the determination of Elon Musk’s legal team to swiftly put an end to the protracted litigation. The lawsuit was initiated by a group of Dogecoin investors who claim Musk orchestrated market manipulation and insider trading to inflate the value of the popular meme cryptocurrency.
Attorney Alex Shapiro’s response to the investors’ complaint was sharp and pointed. He framed the latest filing as an example of lawyers overstepping their boundaries and utilizing aggressive litigation tactics. So in the filing, he moved a motion to disqualify sanctions.
In one of his statements, Shapiro stated ” Enough is enough” as the case has been a long-standing one. Musk’s legal team also emphasized the legality of his crypto-related statements, while the case has delved into the nebulous realm of social media influence in financial markets.
Evan Spencer, the lead attorney for the class action lawsuit, has relentlessly pursued Musk and the allegations against him. Spencer has now made a total of three amendments to the lawsuit since its initial filing in June of the previous year, seeking a staggering $258 billion in damages for investors claiming to have been defrauded by the Tesla CEO with his Dogecoin Pyramid Schemes.
Musk’s Relationship With Dogecoin
Dogecoin was designed originally in 2013 as a joke to tease Bitcoin but went from a “meme” to a substantial valuable asset in the cryptocurrency space during 2020 and 2021 especially.
Most of the meme coin’s growth was driven by billionaire Elon Musk, who actively promoted the altcoin to his over 100 million Twitter (Now X) followers at the time.
His initial tweet in April 2019, playfully endorsing Dogecoin as a potential favorite cryptocurrency, ignited a chain reaction that saw subsequent tweets by Musk triggering substantial price fluctuations.
“Dogecoin might be my fav cryptocurrency. It’s pretty cool” Musk tweeted at the time. Musk’s many tweets following this would continuously push DOGE’s price high, reaching as high as $0.7 before the bear market hit.
Since then, DOGE’s price has fallen over 90%, and the class action lawsuit emerged as a result of investors who believed they had fallen victim to a pyramid scheme after buying for high prices.
The elongated legal struggle holds significant implications for the cryptocurrency community and the broader financial world. With Musk’s legal team emphasizing the dismissal of the lawsuit, the outcome could set a precedent for legal battles involving influential figures in the cryptocurrency domain.
Musk appears to be unmoved as he promotes his newly acquired innovation, Twitter, now rebranded as X.
Shaquille O’Neal Finally Served FTX Lawsuit: Lawyers
Legendary Basketballer Shaquille O’Neal has finally been served a class-action lawsuit against FTX founder Sam Bankman-Fried, lawyers of the plaintiffs tweeted on Sunday.
U.S. Supreme Court to Hear First Crypto Case Tuesday
The U.S. Supreme Court will hear arguments in its first ever crypto-related case on Tuesday, when lawyers for San Francisco-based crypto exchange Coinbase will attempt to convince the nine Justices to pause a pair of class action lawsuits against the exchange.
Tether requests Roche Freedman to be booted from class action
Bitfinex and Tether’s legal representatives also want the law firm to return or destroy all defendant-issued documents and confirm they haven’t been shared.
Terra fallout: Stablegains lawsuit, Hashed loses billions, Finder wrong and more…
Yield generation app Stablegains is facing a lawsuit after losing around $44 million worth of user funds in the Terra collapse when it previously said it allocated funds “across a number of stablecoins”.
Rapper The Game facing $12M judgment along with execs in ICO case
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Ledger faces class action from phishing scam victims
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Nvidia Disguised $1B in ‘Fickle’ Crypto Mining Sales as Gaming Revenue: Lawsuit
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Plaintiffs Combine Their Market-Manipulation Lawsuits Against Bitfinex and Tether
Three class action lawsuits alleging Bitfinex and Tether manipulated the bitcoin market have been combined in federal court, with the stablecoin issuer promising to fight the claims.
Ripple Files Last Bid to Dismiss XRP Securities Lawsuit Before Court Meeting
Even if XRP were a security, the investors suing Ripple brought their case far too late for it to proceed, the company said in a new filing.
What’s Next in the Securities Case Against Ripple Over XRP
Ripple has strong defenses against a lawsuit alleging it violated securities laws by selling XRP, but the road ahead is long, legal experts said.
Bitcoin Brokerage Denies Tezos ICO Involvement in Court Filing
Bitcoin Suisse AG, a cryptocurrency brokerage listed as a defendant in a lawsuit against Tezos, has filed a motion to dismiss the case against it.