Elon Musk requests dismissal of $258B Dogecoin ( $0.094 ) lawsuit: Report

Elon Musk and his lawyers reportedly requested a United States judge to dismiss the $258 billion lawsuit filed by investors who alleged that he operated a pyramid scheme to promote the cryptocurrency Dogecoin ( $0.094 ) (DOGE).

According to an April 1 Reuters report, Elon Musk’s lawyers referred to the lawsuit filed by Dogecoin ( $0.094 ) investors, a “fanciful work of fiction,” in Manhattan’s federal court on March 31.

It was reported that Musk’s lawyers referred to his Dogecoin ( $0.094 ) statements as “innocuous and often silly tweets,” in an effort to convince the judge to “throw out” the multi-billion dollar lawsuit.

Musk’s lawyers explained that his Dogecoin ( $0.094 ) -related statements – including “ Dogecoin ( $0.094 ) Rulz” and “no highs, no lows, only Doge” – were “too vague” to warrant a fraud claim. The lawyers noted:

“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion.”

Investors cited Musk’s Saturday Night Live appearance where he portrayed “a fictitious financial expert,” and referred to Dogecoin ( $0.094 ) as “a hustle,” a reference point in the lawsuit.

What is Dogecoin ( $0.094 ) ?

— Elon Musk, the Dogefather @elonmusk pic.twitter.com/3ZtD5gv221

— DogeDesigner (@cb_doge) March 15, 2023

The lawyer representing the investors, Evan Spencer, reportedly stated in an email that “we are more confident than ever that our case will be successful.”

This is a developing story, and further information will be added as it becomes available.