The post Dogecoin Foundation Reacts to Dismissal of Lawsuit Against Elon Musk appeared on BitcoinEthereumNews.com.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a significant development for the Dogecoin community, the $248 billion class-action lawsuit against Tesla CEO Elon Musk has been dropped. The case, filed in 2022, claimed Musk of making misleading statements about Dogecoin, which allegedly led to substantial financial losses for investors. The plaintiffs cited incidences such as Musk’s appearance on Saturday Night Live in 2021, which was followed by a substantial decline in the price of Dogecoin, and his decision to replace the X logo with the doge mascot last year. Related In a filing on Thursday, lawyers for Musk and the Dogecoin investors told a Manhattan federal judge both parties would like to bring the case to an end.  This includes withdrawing a notice of appeal filed in September and any ongoing motions. Relief for Dogecoin community Throughout the legal battle, the Dogecoin Foundation stood by its core developers, founders and community members, who were initially named in the lawsuit. A whole lot of efforts were put in to get these individuals removed from the case early on, and hence the Dogecoin Foundation expresses relief as the case is now put to an end. The Foundation’s statement highlighted the strain the legal action placed on the broader Dogecoin community. Related In a tweet, the Foundation wrote: “We’re glad this is finally over. We took…

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Filed under: News - @ November 16, 2024 11:21 pm