Tesla CEO Elon Musk’s attorneys argued on Monday that the billionaire’s authorized battle with a gaggle of disgruntled Dogecoin buyers has dragged on for too lengthy.
Musk’s counsel requested for the plaintiff’s revised criticism to be dismissed, in keeping with a filing submitted in a New York federal courtroom. In a letter supporting the dismissal, Musk lawyer Alex Shapiro skewered the lawsuit’s newest criticism submitted on behalf of Dogecoin buyers.
“Sufficient is sufficient,” Shapiro wrote. “This motion is yet one more instance of counsel’s abusive and belligerent litigation techniques.”
Evan Spencer, the lead lawyer within the class-action lawsuit in opposition to Musk, amended the lawsuit’s criticism for a 3rd time in June, tacking on extra allegations.
The lawsuit, which initially sought $258 billion in damages when filed last June, accuses Musk of “a deliberate course of carnival barking, market manipulation, and insider buying and selling” on the subject of considered one of crypto’s most iconic meme cash.
Musk’s enthusiasm for Dogecoin has been well-documented through the years since his preliminary Tweet that “Dogecoin could also be [his] fav cryptocurrency” in April 2019, and it’s solely continued since his acquisition of Twitter final yr.
The Tesla CEO’s newest high-profile second involving Dogecoin befell round (however not on) April Fools Day when Twitter’s brand was temporarily replaced with Dogecoin’s Shiba Inu mascot. Within the amended criticism, Spenser notes the swap befell shortly after Musk’s counsel sought to dismiss the lawsuit in March and led Dogecoin to rally 30%.
In 2021, Dogecoin pumped to dizzying heights forward of Musk’s look on NBC’s Saturday Night time Stay just for Dogecoin to buckle after he called it a hustle on the late-night comedy present. Nonetheless, Musk’s counsel says any Dogecoin “cheerleading” their consumer has finished through the years quantities to “quintessential, inactionable puffery.”
“There may be nothing illegal about tweeting phrases of help for, or humorous footage about, a cryptocurrency,” Musk’s counsel wrote in Monday’s movement, deriding the amended criticism as “fanciful, meandering, and sometimes incomprehensible.”
Musk’s attorneys said the lawsuit’s claims fail to carry up beneath scrutiny as a result of allegations relaxation on Dogecoin offered by digital wallets that aren’t factually tied to Musk or Tesla. Moreover, Musk’s attorneys declare the lawsuit fails to show Musk’s feedback about Dogecoin had been materially false or deceptive.
In June, U.S. District Choose Alvin Hellerstein, who oversees the case, set a deadline for Musk’s attorneys to answer the amended criticism by Monday. When it comes to submitting their opposition to the movement for dismissal, attorneys representing Dogecoin buyers have till early September.
As June progressed, the authorized battle took an acrimonious flip. Spencer accused Musk’s authorized crew of participating in “dirty tactics” after an article within the New York Submit cited a letter written by Musk lawyer Alex Spiro. Asking for a number of of Musk’s attorneys to be faraway from the case, Spencer alleged it was an try and “materially prejudice” the lawsuit.
“It seems defendants are utilizing their bottomless warfare chest to finance an illegal harassment marketing campaign in opposition to me and my shoppers,” Spencer wrote in a subsequent submitting.
Musk’s attorneys shot again and referred to as the request to take away counsel an “insult,” including that allegations Spiro leaked the derogatory letter had been baseless. They stated that it was truly Spencer who was appearing inappropriately and his allegations had been “so improper that Spencer’s Movement itself [was] sanctionable.”