Hundreds of billions of dollars in paper gains have been erased as a result of the recent selloff ofCryptocurrencies.
A class action lawsuit was filed Thursday in federal court in Manhattan by an American Dogecoin investor who is accusing Musk and his companies of inflating the price of thecryptocurrencies. The price of the token spiked when Musk mentioned it on his account.
The lawsuit claims that Musk has been controlling thecryptocurrencies and is liable for damages for investors who have lost money as the price has fallen from its high of nearly $0.74 to just
The complaint calls for triple the damages, which is how much has been lost by Doge coin investors since Musk first mentioned it.
According to the complaint, defendants made a false and deceptive claim that Dogecoin was a legitimate investment. Since Musk and his corporations began purchasing, developing, promoting, supporting and operating Doge coin, the class has lost $86 billion.
We reached out to him.
All Rights Reserved © 2024
