- Elon Musk lost one of the leading in-house litigators.
- $258 billion lawsuit accuses Musk of price manipulation.
- A new member joins the legal team ahead of the hearing.
A breakthrough in the $258 billion Dogecoin pyramid case indicates a line-up change in Elon Muskโs defense. According to todayโs filing in Manhattan Federal Court, attorney Adam Gabor Mehes is leaving Teslaโs legal team. The prominent attorney has been in the middle of the action of the Dogecoin class-action lawsuit for over a year.
On the other hand, Tesla and Elon Muskโs legal defense team welcomed Allison Huebert, an experienced lawyer who previously worked for the Quinn Emanuel law firm. Previously, Elon was revealed to be building a โhardcore litigation departmentโ and created the departmentโs email address โjustice@tesla.com.โ
Sponsored
Prospected to be the star player in the lawsuit, the fresh-off-the-boat litigation team member has 69 followers on Twitter. Her bio quotes a prayer by the iconic French philosopher and writer Voltaire:
"I have never made but one prayer to God, a very short one: 'O Lord, make my enemies ridiculous.' And God granted itโ.
The Mystical Whale Who Sold Off $124M in DOGE
The case plaintiffs are currently focused on Aprilโs Twitter logo change to Shiba Inu. According to them, The Dogefather used his social media influence and position to prop up Dogecoinโs price, only later to sell a colossal 1.4 billion tokens during the 30% spike.
Interestingly, the Ethereum wallets traced by the blockchain sleuths indicate that the whale still holds millions of dollars in Dogecoin. Teslaโs attorney Alex Shapiro denied these claims in a motion filed for the Manhattan Federal Court.
While the crypto world awaits the next development in this ground-breaking case, DOGE still changes hands sailing slightly above the fundamental support line of $0.06. The continuous consolidation in Dogecoinโs price shows strong resilience compared to other significant market-cap altcoins.
However, DOGE still dipped 15% monthly after the U.S. Securities and Exchange Commission (SEC) simultaneously slapped Binance and Coinbase with lengthy lawsuits in Gary Genslerโs latest attempt to curb crypto.
On the Flipside
- Teslaโs lawyer team filed a motion to dismiss the class-action lawsuit in April after arguing that phrases like โDogecoin To The Moonโ and dog memes are not financial advice.
- The lawsuit also states that Dogecoin, the Proof-of-Work blockchain derived from Bitcoinโs code, should be regarded as a security, which is unlikely for PoW blockchains.
Why This Matters
The outcome of this case could be crucial for Dogecoinโs future.
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