Elon Musk’s lawyers reportedly argued that “there is nothing unlawful about tweeting words of support” for a legitimate cryptocurrency holding a market cap of $10B
, Elon Musk's lawyers referred to the lawsuit filed by Dogecoin 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 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-related statements – including “Dogecoin 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 as “a hustle,” a reference point in the lawsuit.
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