Allegations against Musk – economy

Investors are taking legal action against Tesla CEO Elon Musk for insider trading in the cryptocurrency Dogecoin. They accuse him of using Twitter messages, paid influencers, an appearance on NBC’s Saturday Night Live in 2021 and other public statements to boost the cryptocurrency’s price, according to court documents. Musk made a profit through his own or Tesla accounts at the expense of other investors. Musk’s attorney, Alex Spiro, declined to comment Thursday. A Tesla attorney and the investor representative initially did not respond to a request for comment. The legal battle between Musk and the investors has been going on for a while. Musk, number two on the Forbes rich list, is accused of driving the price of Dogecoin up more than 36,000 percent over two years and then letting it collapse. A first complaint was filed in June.

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