Elon Musk’s Lawyers Move the Court for Lawsuit Dismissal

In 2021, Elon Musk appeared on an episode of Saturday Night Live, in which he played the role of a fictional character of a financial expert. There he named Dogecoin, “a hustle”, after which the cryptocurrency’s price quickly tanked. In this lawsuit, investors are claiming that Elon Musk was running a pyramid scheme to bring Dogecoin’s market price up. 

However, Musk’s lawyers say that the premise of this lawsuit is far-fetched, and vague, and cannot warrant any charges of fraudulent promotion and activity. Hence, this case should be dismissed, according to Musk’s team. However, the investors are hopeful that the case will be heard in Court. 

According to them, anyone can post a tweet or an image about a valid cryptocurrency that has a huge market cap. It should be noted that after his appearance on SNL, Musk tweeted numerous times about Dogecoin and its efficiency.