Posted by • Elon Musk is facing a $258 billion lawsuit over alleged Dogecoin market manipulation.
• Key litigator Adam Gabor Mehes has withdrawn, while Allison Huebert steps in to fill the void.
• The plaintiff’s claim that Musk owns specific wallets is denied by Musk’s attorney Alex Spiro.
Elon Musk Sued for Alleged Dogecoin Market Manipulation
Elon Musk, the CEO of Tesla, is being sued for allegedly manipulating the price of dogecoin (DOGE) after his appearance on NBC’s Saturday Night Live in May 2021. The lawsuit against him amounts to $258 billion.
Key Litigator Withdraws from Legal Team
In response to this legal saga, key litigator Adam Gabor Mehes has withdrawn from Elon Musk’s legal team and Allison Huebert has stepped in to take his place. This shift could potentially be a critical juncture in the case against Musk.
Denial of Ownership Claims
The plaintiff’s lawyer Evan Spencer accused Elon Musk of cashing in $95 million worth of DOGE when the price was soaring; however, Alex Spiro, representing Musk, sent a written message stating that this claim is not supported and that the plaintiffs are mistaken.
Dogecoin Price Falls Despite Growing Number of Holders
Despite an increasing number of holders, dogecoin’s price has dropped recently due to various factors including allegations against Elon Musk himself.
Conclusion
The situation surrounding dogecoin and Elon Musk remains complex as both parties battle it out in court with intense legal proceedings underway; however, it remains unclear how much further this case will go and what its eventual outcome will be.