Elon Musk‘s legal team began the week by arguing that the protracted legal dispute between the entrepreneur and a faction of dissatisfied Dogecoin backers has persisted for an excessive duration, News About Nigeria reports.
In a formal submission to a federal court in New York, Musk’s legal representatives requested the dismissal of the plaintiff’s revised complaint.
Supporting this motion, Alex Shapiro, the attorney representing Elon Musk, strongly criticized the most recent complaint from the Dogecoin investors, describing it as a prime example of “abusive and confrontational litigation tactics” employed by the opposing party.
Shapiro stated, “Enough is enough, this action is yet another example of counsel’s abusive and belligerent litigation tactics.”
Elon Musk Faces Legal Challenge Over Dogecoin
The legal conflict, which was initiated in June of the previous year with a demand for a staggering $258 billion in restitution, alleges that Musk engaged in a series of calculated actions resembling showmanship, market manipulation, and insider trading within the realm of one of cryptocurrency’s most iconic meme coins.
To provide context, Dogecoin experienced a rapid surge in value in 2021 prior to Musk’s appearance on NBC’s “Saturday Night Live.” However, the cryptocurrency’s value plummeted after Musk referred to it as a mere scheme during the comedic show.
Nevertheless, his legal team contends that any positive statements he has made about Dogecoin over the years are simply enthusiastic expressions and do not warrant legal action.
In a recent legal filing submitted on Monday, Musk’s legal representatives asserted that expressing support for a cryptocurrency or sharing humorous images related to it is entirely legal. The filing criticized the amended complaint, labeling it as “imaginary, wandering, and often incomprehensible.”
Elon Musk’s lawyers further emphasized that the claims presented in the lawsuit lack credibility due to their reliance on transactions involving Dogecoin from digital wallets that cannot be definitively linked to Musk or his company, Tesla.
Elon Musk’s Enthusiasm for the Meme Coin
Over the years, Musk’s unwavering support for Dogecoin has been well-documented, starting with his initial tweet in April 2019, in which he declared that Dogecoin might be his favorite cryptocurrency.
Following his acquisition of Twitter, Musk’s endorsement of Dogecoin gained even more attention. One particularly notable instance of this enthusiasm occurred around April Fools Day, when Twitter playfully replaced its logo with Dogecoin’s Shiba Inu mascot, generating buzz around the cryptocurrency.
From his first tweet in 2019 to the Twitter logo swap in 2023, Musk’s interactions with Dogecoin have remained a captivating aspect of the cryptocurrency’s journey.