Musk Urges Sanctions Against Attorneys in Dogecoin Dispute
Lawyers representing Elon Musk and Tesla Inc. in a suit filed by Dogecoin investors claim that the plaintiffs’ counsel did not adequately investigate claims that Musk sold dog-themed cryptocurrency worth billions. The lawyers made this argument to a New York federal judge on Friday.
The suit alleges that Musk made false and misleading statements on social media, causing the price of Dogecoin to skyrocket. The investors claim that they suffered financial losses as a result.
The defendants argue that the plaintiffs’ counsel did not conduct a thorough investigation into the claims before filing the lawsuit. They claim that the plaintiffs’ counsel failed to make even the “barest” inquiry into the alleged misconduct.
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In conclusion, Elon Musk and Tesla Inc. are being sued by Dogecoin investors, with the defendants claiming that the plaintiffs’ counsel did not adequately investigate the claims before filing the lawsuit. This information is provided by Law360, a legal news and analysis website that offers a subscription service with a range of benefits and resources for legal professionals.