How Did Elon Musk Get Acquitted of the Dogecoin Case? Found It "Exaggerated" - Coin Bulletin

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**Tesla and its CEO Elon Musk have won the class action lawsuit filed by Dogecoin investors. This lawsuit, initiated in 2022, contained allegations that Musk's statements about Dogecoin led to market manipulation and harmed investors.

US District Judge Alvin Hellerstein definitively dismissed the case on Thursday, meaning the case was permanently terminated. In June 2022, investors filed a lawsuit against Musk and his company Tesla, alleging that their series of tweets and activities related to Dogecoin had defrauded them.

Investors had claimed that Musk's statements, such as accepting the CEO position of Dogecoin and proposing to send it to the moon by putting a Dogecoin on SpaceX, were misleading.

The claims of the Dogecoin party were denied

Judge Hellerstein stated in his decision that such statements are "exaggerated" and added that they are not the kind that can be tested for accuracy. Hellerstein said that no reasonable investor relying on such statements could rely on them.

In addition, the judge expressed that it is "impossible" to understand the plaintiffs' market manipulation claims, Musk and Tesla's alleged "pump and dump" plan, and an alleged breach of trust leading to insider trading.

After this decision, Dogecoin traded at about $0.1 with a 1.2% decrease in the last 24 hours. The market value of Dogecoin is currently at $14.6 billion.

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