Elon Musk used SNL, other ‘publicity stunts’ to drive up dogecoin: lawsuit

Elon Musk is being accused of insider trading in a proposed class action by investors accusing the Tesla CEO of manipulating the cryptocurrency dogecoin, costing them billions of dollars.

and other “publicity stunts” to trade profitably at their expense through several dogecoin wallets that he or Tesla controls.replaced Twitter’s blue bird logo with dogecoin’s Shiba Inu dog logoA “deliberate course of carnival barking, market manipulation and insider trading” enabled Musk to defraud investors, promote himself and his companies, the filing said.

The lawsuit accused Elon Musk of using Twitter posts, paid online influencers, his 2021 appearance on NBC’s “Saturday Night Live” and other “publicity stunts” to trade profitably at their expense.Alex Spiro, a lawyer for Musk, declined to comment on Thursday. A lawyer for Tesla did not immediately respond to a request for comment. The investors’ lawyer did not immediately respond to a separate request.

They included their latest accusations in a proposed third amended complaint, in a lawsuit that began last June.

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