Elon Musk and his electric car company Tesla have won a lawsuit over alleged price manipulation of DoZico.
On the 29th (local time), Alvin
Judge Hellerstein ruled in favor of Musk in a lawsuit alleging that he manipulated the price of DoZico to cause losses of $258 billion.
Judge Hellerstein found that the defendants made various materially false statements in connection with Musk's Do-Zico tweets, including that Musk himself
This includes Min Min becoming the official CEO of DoZicoin and saying that real DoZicoin could be loaded onto a SpaceX spacecraft and sent to the moon.
Judge Hellerstein said, "No reasonable investor could make an investment decision based on such statements.
The lawsuit states that Musk's tweets are "unreasonable to rely on to make investment decisions." The lawsuit alleges that Musk raised the price of DoZico in June 2022, then caused it to fall.
The lawsuit was brought against Musk and Tesla by disgruntled DoZico investors who allegedly ran a DoZico pyramid scam as the world's richest man.
In response, Musk requested that the lawsuit be dismissed on March 31, and his lawyers filed a lawsuit against the company and its $258 billion damages claim.
He described it as a "fictional novel."
2024/08/30 14:39 KST
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