Elon Musk and Dogecoin Investors End Legal Battle as Investors Withdraw Appeal

The long-running legal battle between Elon Musk and a group of Dogecoin investors who accused him of manipulating the price of Dogecoin in 2023 has officially ended as they withdrew their appeal.

A legal battle between Elon Musk and a group of Dogecoin investors has officially ended after they withdrew their appeal.

The case began when a group of investors accused Musk, Tesla, and SpaceX of manipulating the price of Dogecoin in 2023. The investors claimed that Musk’s tweets, his appearance on “Saturday Night Live,” and other public acts were intended to drive up the price of Dogecoin for his own profit.

The investors initially asked for $258 billion in damages, accusing Musk and his company of fraud and insider trading. However, Judge Hellerstein dismissed the case in August, saying Musk’s tweets weren’t enough to prove fraud.

The judge also pointed out that statements like Musk calling Dogecoin the “future currency of Earth” and claiming it could be sent to the moon by his company SpaceX were not serious enough to be considered fraud.

After the case was dismissed, the investors tried to appeal the decision. They also asked the court to punish Musk’s legal team for allegedly interfering with the appeal process and asking for high legal fees.

However, on November 14, the investors decided to withdraw their appeal and also dropped their request to punish Musk’s lawyers. Both sides filed a statement in court to end the case, but it still needs approval from Judge Alvin Hellerstein in Manhattan.

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